Ca_Law

statute | California

Financial Code - FIN - FIN § 1133

  • UIDca_leginfo_codes:fin-1133
  • CitationFinancial Code - FIN - FIN § 1133
  • Court / bodyCalifornia Legislative Counsel
  • Decision dateN/A
  • CollectionPUBINFO_2025
  • SourceOriginal

Summary

Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of: (a) The retained earnings of the bank

Text

Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of:
(a)
The retained earnings of the bank;
(b)
The net income of the bank for its last fiscal year; or
(c)
The net income of the bank for its current fiscal year.

Retrieval chunks

  • #1 | Financial Code - FIN - FIN § 1133

    Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of: (a) The retained earnings of the bank; (b) The net income of the bank fo…