Cal. Fin. Code § 1133

Current through the 2024 Legislative Session.

Section 1133 - Distribution with prior approval of commissioner

Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of:

(a) The retained earnings of the bank;

(b) The net income of the bank for its last fiscal year; or

(c) The net income of the bank for its current fiscal year.

Ca. Fin. Code § 1133

Added by Stats 2012 ch 243 (SB 664),s 3, eff. 1/1/2012.