California Code of Regulations
Title 10 - Investment
Chapter 2 - Savings and Loan Commissioner
Subchapter 3 - Applications and Hearings
Article 1 - Applications and Hearings: New Facilities, Branches, Changes of Location, Agencies, Conversions from a Federal to State Association, Changes of Name and Amendments of Articles of Incorporation
Section 103.107 - New Associations-Capital Requirements
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) Application. An application for approval of a new guarantee stock or mutual association must comply with current instructions issued by the commissioner.
(b) Guarantee Stock. A new guarantee stock association should have guarantee stock with a par value or stated value of at least $8 per share upon application for approval.
1. Change without regulatory effect renumbering former Section 145.7 to Section 103.107 (Register 87, No. 14). For prior history, see Register 82, No. 16.
Note: Authority cited: Section 5255, Financial Code. Reference: Sections 5500- 5515, 6456 and 6457, Financial Code.
