Financial Code section 31231

No licensee shall, except with the prior approval of the commissioner, make, or obligate itself to make, any distribution to its shareholders.

Source: Section 31231, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=31231. (updated Jan. 1, 1997; accessed Dec. 22, 2025).

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Up to date

Verified:
Dec. 22, 2025

§ 31231's source at ca.gov

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Location: https://california.public.law/codes/financial_code_section_31231

Original Source: Section 31231, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=31231. (last accessed May 12, 2025).