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Code · California · Financial Code

§ 1471

70 words·~1 min read·/ca/financial-code/1471

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

(a)Subject to the limitations and exceptions in Sections 1481 and 1510, a bank may hold both obligations made by a person, and securities issued by that same person.
(b)The total amount of obligations and securities held by a bank pursuant to subdivision
(a)shall not exceed 25 percent of the sum of the shareholders’ equity, allowance for loan and lease losses, capital notes and debentures of the bank.
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