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Cal. Financial Code § 1047

Cal. Financial Code § 1047

California · California Financial Code · Status: effective · Effective 2012-01-01

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Cal. Financial Code § 1047, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/812955
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It is unlawful to apply any part of the funds collected from subscribers or shareholders to the payment of commissions or fees for obtaining subscriptions or selling shares or, except with the prior approval of the commissioner, to the payment of preopening noncapital expenditures.