Financial Code section 1868

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.

Source: Section 1868, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1868. (updated Jan. 1, 2012; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 1868's source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_1868

Original Source: Section 1868, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1868. (last accessed May 12, 2025).