Financial Code section 1869

No corporation shall, either directly or indirectly, make any discount to any person for the purpose of enabling him to pay for or hold shares of its stock either subscribed for or purchased by him. Any corporation making any such discount shall forfeit to the people of the state twice the amount of such discount.

Source: Section 1869, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1869. (accessed Apr. 24, 2025).

Last Updated

Apr. 24, 2025

§ 1869’s source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_1869

Original Source: Section 1869, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=1869. (last accessed Apr. 24, 2025).