§ 3124 Gas Corporation Stock Ownership

Public Utilities Code·California

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Key Takeaways

•A group can buy, own, or sell parts of a company that makes gas or does things related to gas.
•The group can also promise to pay back money or interest on what they bought.
•This rule was added in 1987.

Example

A club wants to buy some shares of a company that makes gas for cars.

The club can buy those shares, keep them, sell them later, or even promise to pay back money on them if they want.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 3124 Gas Corporation Stock Ownership

An association may purchase or otherwise acquire, hold, own, and exercise all rights of ownership in, sell, transfer, pledge, or guarantee the payment of dividends or interest on, or the retirement or redemption of, shares of the capital stock or bonds of any corporation or association which is engaged in the production of gas or any related activity. (Added by Stats. 1987, Ch. 680, Sec. 1.)

Last verified: January 23, 2026

Key Terms

association capital stock bonds production of gas related activity

References

Official text at leginfo.legislature.ca.gov
California Legislature. Public Utilities Code. Section 3124.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References