California Law (Last Updated: March 4, 2014) |
Financial Code - FIN |
Division 15. BUSINESS AND INDUSTRIAL DEVELOPMENT CORPORATIONS |
Chapter 1. General Provisions |
ARTICLE 3. Definitions |
Section 31049.
Latest version.
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"Principal shareholder", when used with respect to a corporation, means any person who owns, directly or indirectly, of record or beneficially, securities representing 10 percent or more of the voting power of such corporation.
(Added by renumbering Section 31047 by Stats. 1982, Ch. 1570, Sec. 5.)