California Statutes
§ 5120. — 5120. (Amended by Stats. 1985, Ch. 983, Sec. 1.76.)
California·Code FIN Financial Code - FIN·Div. 2. DIVISION 2. SAVINGS ASSOCIATION LAW·Ch. 1. CHAPTER 1. Short Title, General Definitions, and General Provisions·Art. 2. ARTICLE 2. General Definitions
“Statutory net worth” or “net worth” means the sum of the following:
(a)Issued and outstanding capital stock.
(b)Issued and outstanding capital certificates.
(c)Paid-in surplus.
(d)Retained earnings.
(e)Pledged savings accounts of a mutual association with the approval of the commissioner.
(f)General reserves and other amounts as the commissioner prescribes.
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California § 5120. (5120. (Amended by Stats. 1985, Ch. 983, Sec. 1.76.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1985, Ch. 983, Sec. 1.76. Effective September 26, 1985.