California · Financial Code

FIN §7251: An association holding investments which have been approved by the commissioner shall not be required to dispose of them or to establish a reserve account if later the commissioner rescinds approval o

What this law says, in plain English

An association with commissioner-approved investments is not required to sell them or create a reserve account if the commissioner later withdraws that approval.

Read the full statutory text

An association holding investments which have been approved by the commissioner shall not be required to dispose of them or to establish a reserve account if later the commissioner rescinds approval of the investments.

Verify at the official source: California legislative text

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