Except with the approval of the commissioner, no corporation shall invest in any one corporation an amount in excess of 10 percent of its own shareholders’ equity, except in a corporation engaged in the business of banking, when 15 percent of its shareholders’ equity may be so invested.
Cal. Fin. Code § 1856
International and Foreign Banking and Financing Corporations
Added by Stats. 2011, Ch. 243, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.