§ 1868
56 words·~1 min read·
/ca/financial-code/1868A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No corporation shall be the holder of any shares of its own capital stock unless such stock shall have been taken to prevent loss upon a debt previously contracted in good faith, and stock so acquired shall, within six months from the time of its acquisition, be sold or disposed of at public or private sale.