Section 9-221 - Initial subscriptions for capital stock account.
§ 9-221. Initial subscriptions for capital stock account.
The incorporators of a capital stock association shall have subscriptions for capital stock in an aggregate of not less than $1,000,000, or any greater amount that the Division Director requires in order to conduct a safe and sound operation.
[CA § 6-217.1; 1980, ch. 856; 1986, ch. 282.]