GroundRules
FIN § 1132
Where this section sits in the code
- Financial Code - FIN
- DIVISION 1.1. BANKING [1000. - 1910.]
- CHAPTER 5. Corporate Requirements [1100. - 1190.]
- ARTICLE 3. Distributions to Shareholders [1130. - 1135.]
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.
Collected 2026-09-14T05:56:33Z. Source file · JSON