California · Financial Code
FIN §1173: The commissioner may, in the name of the people of this state, bring or intervene in an action under Section 709 of the Corporations Code to determine the validity of any election or appointment of an
What this law says, in plain English
The state commissioner may bring or join legal actions to challenge the validity of elections or appointments under state corporate law.
Read the full statutory text
The commissioner may, in the name of the people of this state, bring or intervene in an action under Section 709 of the Corporations Code to determine the validity of any election or appointment of any director of a bank to the same extent as a shareholder of such bank might bring such an action.
Verify at the official source: California legislative text
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