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Marginalia
Code · California · Financial Code

§ 1122

38 words·~1 min read·/ca/financial-code/1122

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

No bank shall issue any shares in consideration of:
(a)Services rendered in the organization of such bank; or
(b)Any note (whether or not negotiable and whether or not secured) made by the purchaser of such shares.
★   the supreme law of the land   ★
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