California § 1209 - Whenever a bank applies for a permit to issue any security or to deliver any othe
Full text of California Public Contract Code - PCC § 1209 — Whenever a bank applies for a permit to issue any security or to deliver any othe, with citation guidance and answers to common questions.
§ 1209. Whenever a bank applies for a permit to issue any security or to deliver any othe
Whenever a bank applies for a permit to issue any security or to deliver any other consideration (whether or not such security or such transaction is exempt from, or not subject to, the provisions of Section 1202) in exchange for one or more bona fide outstanding securities (as defined in Section 25019 of the Corporations Code), claims, or property interests, or partly in such exchange and partly for cash, the commissioner is authorized to approve the terms and conditions of such issuance and exchange or such delivery and exchange and the fairness of such terms and conditions and is authorized to hold a hearing on the fairness of such terms and conditions, at which all persons to whom it is proposed to issue any security or to deliver any other consideration in such exchange shall have the right to appear.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1209
What does Public Contract Code - PCC § 1209 cover?
Section 1209 ("Whenever a bank applies for a permit to issue any security or to deliver any othe") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 1209?
A common citation format is "Public Contract Code - PCC § 1209" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 1209 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.