Statute · California Financial Code
Cal. Fin. Code § 1134 — Distributions to Shareholders
Cal. Fin. Code § 1134
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Notwithstanding the provisions of Section 1132, a bank may:
Citator
Cal. Fin. Code § 1134 — Distributions to Shareholders is in force in the current edition of the Code, and nothing recorded condemns it.
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.