Cal. Code Regs. Tit. 10, § 260.141 - Waiver of Assets and Dividends

Current through Register 2022 Notice Reg. No. 16, April 25, 2022

Until such conditions are removed by order of the Commissioner, normally all promotional shares should be subject to the conditions that the holders thereof waive all rights:

(a) To receive cash or property dividends; and
(b) To participate in any distribution of assets, in the event of liquidation.

Notes

Cal. Code Regs. Tit. 10, § 260.141

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