California Financial Code ARTICLE 4 - Distributions to Shareholders

• Section 31230.
  In this article, “distribution to its shareholders” has the meaning set forth in Corporations Code Section 166.(Added by Stats. 1977, Ch. 1164.)
• Section 31231.
  No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.(Amended by Stats. 1996,...
• Section 31232.
  If the commissioner finds, with respect to an application for approval for a licensee to make, or to obligate itself to make, a distribution to...
• Section 31233.
  Notwithstanding the provisions of Section 31232, unless an application for approval for a licensee to make, or to obligate itself to make, a distribution to...

Last modified: October 22, 2018