California · Through 2026-09-13

FIN § 5400

Where this section sits in the code

Financial Code - FIN
DIVISION 2. SAVINGS ASSOCIATION LAW [5000. - 10009.]
CHAPTER 2. Corporate Organization and Corporate Changes [5400. - 5868.]
ARTICLE 1. Organizing Permit [5400. - 5403.]

(a) No funds from proposed stockholders, members, or organizers of any proposed association may be collected until a verified application for an organizing permit has been filed and a permit has been issued by the commissioner authorizing collection of funds, and then only in accordance with the terms of the permit.

(b) As used in this chapter, the term “organizer” means a person who agrees to contribute funds to a proposed association to be used for its organization expenses.

Collected 2026-09-14T05:56:33Z. Source file · JSON

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