Section 1132 - Limitation on amount of distributionNeither 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.Added by Stats 2012 ch 243 (SB 664),s 3, eff. 1/1/2012.