Section 103.107 - New Associations-Capital Requirements(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.Cal. Code Regs. Tit. 10, § 103.107
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.
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.