§ 1856
48 words·~1 min read·
/ca/financial-code/1856A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Except with the approval of the commissioner, no corporation shall invest in any one corporation an amount in excess of 10 percent of its own shareholders’ equity, except in a corporation engaged in the business of banking, when 15 percent of its shareholders’ equity may be so invested.