Statute · California Financial Code
Cal. Fin. Code § 1132 — Distributions to Shareholders
Cal. Fin. Code § 1132
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds the lesser of:
Citator
Cal. Fin. Code § 1132 — Distributions to Shareholders is in force in the current edition of the Code, and nothing recorded condemns it.
Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds the lesser of:
(a) The retained earnings of the bank; or
(b) The net income of the bank for its last three fiscal years, less the amount of any distributions made by the bank or by any majority-owned subsidiary of the bank to the shareholders of the bank during such period.