No company may have investment certificates outstanding with a person or related persons in an aggregate amount in excess of 20 percent of the unimpaired capital stock and surplus of the company not available for dividends as provided in Section 18319.

(Amended by Stats. 1989, Ch. 663, Sec. 10. Operative January 1, 1991, by Sec. 20 of Ch. 663.)

Terms Used In California Financial Code 18317

  • Capital: as used in this division , consists of all of the following:

    California Financial Code 18018

  • company: as used in this division means a premium finance agency as defined in Section 18560. See California Financial Code 18003
  • Person: includes any person, firm, partnership, association, corporation, company, limited liability company, syndicate, estate, trust, business trust, or organization of any kind. See California Financial Code 18
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