California · Financial Code

FIN §5808: No association that is a subsidiary in this state of any savings and loan holding company that does not have in effect a certificate of registration for that association as required by this article or

What this law says, in plain English

A savings and loan holding company's state subsidiary must obtain and maintain a required certificate of registration for that association.

Read the full statutory text

No association that is a subsidiary in this state of any savings and loan holding company that does not have in effect a certificate of registration for that association as required by this article or whose holding company has failed to comply with (1) an order of a court made in respect to the provisions of this division or (2) an order of the commissioner under Section 8200, shall knowingly, without consent of the commissioner, do any of the following: (a) Transfer or register stock or other securities on its books for or issue certificates to its holding company. (b) Pay dividends on stock of which its holding company is the record or beneficial owner. (c) Permit the voting of stock owned or controlled by its holding company. (d) Make any other payments of any nature to its holding company. (e) Enter into any agreement, contract, or transaction with its holding company.

Verify at the official source: California legislative text

Facing this? Know exactly what happens next.

MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.

Start your matter free Ask Law Link about this code

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.