§ 5620
77 words·~1 min read·
/ca/financial-code/5620A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A stock association may issue shares of common stock and preferred stock, with or without par value, and common and preferred stock may be divided into classes and the classes into series.
(b)Stock associations which have withdrawable shares outstanding as of the effective date of this section may continue to issue savings accounts in that form and the holders of these accounts shall have the same rights as they had before this section became law.