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California Code, Financial Code - FIN § 253

Current as of January 01, 2025 | Updated by Findlaw Staff

In case the board of a subject institution has, prior to January 1, 1979, adopted a resolution levying an assessment on the common shares of such subject institution in accordance with an order issued by the commissioner pursuant to Section 661 of the prior Banking Law:

(a) If the assessment has, prior to January 1, 1979, become a lien on the common shares in accordance with Section 2704 of the prior General Corporation Law, the assessment shall be collected pursuant to the prior General Corporation Law:

(b) Otherwise, the resolution shall be deemed to be rescinded on January 1, 1979.

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Cite this article: FindLaw.com - California Code, Financial Code - FIN § 253 - last updated January 01, 2025 | https://codes.findlaw.com/ca/financial-code/fin-sect-253/

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