Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 1 - Commissioner of Business Oversight, Division of Financial InstitutionsSubchapter 10 - BanksArticle 4 - Establishment of California State BanksSubarticle 2 - Establishment of California State Commercial Bank, Industrial Bank, or Independent Trust Company
Part 3 - Administrative Standards and Procedures
Section 10.3302 - Shareholders' Equity

Cal. Code Regs. tit. 10 § 10.3302

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Current through Register 2024 Notice Reg. No. 52, December 27, 2024
Section 10.3302 - Shareholders' Equity

As an administrative standard, the Commissioner generally requires that, at the time when a subject institution which is a commercial bank commences business, the shareholders' equity of such subject institution be not less than 10% of estimated total deposits of the subject institution as of the end of the third year of business.

Cal. Code Regs. Tit. 10, § 10.3302

1. Change without regulatory effect amending section and adding new NOTE filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).

Note: Authority cited: Section 215, Financial Code. Reference: Section 362, Financial Code.

1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).