§ 1856

1856. 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.(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)