Section 1134 - Distribution by redeeming shares or reduction of contributed capitalNotwithstanding 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.Added by Stats 2012 ch 243 (SB 664),s 3, eff. 1/1/2012.