California · Financial Code
FIN §506: Whenever he or she deems it expedient, the commissioner may call a meeting of the stockholders of any bank or trust company.
What this law says, in plain English
A commissioner may call a stockholder meeting for a bank or trust company when deemed necessary.
Read the full statutory text
Whenever he or she deems it expedient, the commissioner may call a meeting of the stockholders of any bank or trust company. Notice of the time and place of the meeting shall be given to each stockholder by a notice mailed to the stockholder by registered mail at the stockholder’s last known address at least 15 days before the date of the meeting. Any expenses of such meeting shall be borne by the bank or trust company.
Verify at the official source: California legislative text
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This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.