Financial Code section 18317

No company may have investment certificates outstanding with a person or related persons in an aggregate amount in excess of 20 percent of the unimpaired capital stock and surplus of the company not available for dividends as provided in Section 18319.

Source: Section 18317, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=18317. (updated Jan. 1, 1991; accessed Dec. 15, 2025).

18315
18316
18317
18318
18318.5
18319
18320
18321
18322
18325

Up to date

Verified:
Dec. 15, 2025

§ 18317's source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_18317

Original Source: Section 18317, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=18317. (last accessed May 12, 2025).