Statute · California Financial Code
Cal. Fin. Code § 1152 — Shareholders’ Equity
Cal. Fin. Code § 1152
- Type
- Statute
- Source
- California Financial Code
- Jurisdiction
- California
- Date
- 2012-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a quasi-reorganization. Such readjustment may include, without limitation, eliminating such deficit retained earnings.
Citator
Cal. Fin. Code § 1152 — Shareholders’ Equity is in force in the current edition of the Code, and nothing recorded condemns it.
A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a quasi-reorganization. Such readjustment may include, without limitation, eliminating such deficit retained earnings.