California § 5718 - In the event stock is to be issued by the converted association, the commissioner
Full text of California Public Contract Code - PCC § 5718 — In the event stock is to be issued by the converted association, the commissioner, with citation guidance and answers to common questions.
§ 5718. In the event stock is to be issued by the converted association, the commissioner
In the event stock is to be issued by the converted association, the commissioner may issue an organizing permit to the federal association or to the board of directors elected to serve after conversion, authorizing the association or the board of directors to take subscriptions to stock, to collect subscription payments and to impound the payments pending the issuance of stock, and authorizing the converted association to issue stock after the filing of its articles of incorporation with the Secretary of State. The commissioner may require that all stock to be initially issued be subscribed and fully paid. The commissioner may also issue a certificate of authority to the converted association to be effective upon filing of its articles of incorporation, and may also issue any other orders and permits necessary to authorize the association to continue business without interruption upon the filing of its articles of incorporation.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 5718
What does Public Contract Code - PCC § 5718 cover?
Section 5718 ("In the event stock is to be issued by the converted association, the commissioner") 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 § 5718?
A common citation format is "Public Contract Code - PCC § 5718" (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 § 5718 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.