California Statutes
§ 1132. — 1132. (Added by Stats. 2011, Ch. 243, Sec. 3.)
California § 1132.
JurisdictionCalifornia
Code FINFinancial Code - FIN
Div. 1.1.DIVISION 1.1. BANKING
Ch. 5.CHAPTER 5. Corporate Requirements
Art. 3.ARTICLE 3. Distributions to Shareholders
This text of California § 1132. (1132. (Added by Stats. 2011, Ch. 243, Sec. 3.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Financial Code - FIN Code § 1132. (2026).
Text
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.
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Legislative History
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.
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Bluebook (online)
California § 1132., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/FIN/1132..