Financial Code - FIN - FIN § 1134

Summary

Notwithstanding the provisions of Section 1132, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means of redeeming its redeemable shares; and (b) With the prior approval of its outstanding shares and of the commissioner, oth

Text

Notwithstanding the provisions of Section 1132, a bank may:
(a)
With the prior approval of the commissioner, make a distribution to its shareholders by means of redeeming its redeemable shares; and
(b)
With the prior approval of its outstanding shares and of the commissioner, otherwise make a distribution to its shareholders in connection with a reduction of
its contributed capital.

Retrieval chunks

• #1 | Financial Code - FIN - FIN § 1134

  Notwithstanding the provisions of Section 1132, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means of redeeming its redeemable shares; and (b) With the prior approval of its outstanding shares and of the commissioner, otherwise make a distribution to its s…