Cal. FIN § 5119
This is the official text of Cal. FIN § 5119, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
“Service corporation” means a corporation, other than a wholly owned subsidiary referred to in Section 7300 or a wholly owned subsidiary doing business as a finance subsidiary in accordance with the requirements of 12 C.F.R. 563.132, in which at least 80 percent of the shares of stock having voting power are owned by one or more associations or federal associations. As used in this section “voting power” shall have the same meaning as defined in Section 194.5 of the Corporations Code.
Status: in_force · Read it on the official government site
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