California Statutes
§ 1134. — 1134. (Added by Stats. 2011, Ch. 243, Sec. 3.)
California·Code FIN Financial Code - FIN·Div. 1.1. DIVISION 1.1. BANKING·Ch. 5. CHAPTER 5. Corporate Requirements·Art. 3. ARTICLE 3. Distributions to Shareholders
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.
Free access — add to your briefcase to read the full text and ask questions with AI
California § 1134. (1134. (Added by Stats. 2011, Ch. 243, Sec. 3.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.