Cal. Fin. Code § 1152

Current through the 2023 Legislative Session.
Section 1152 - Readjustment of accounts in quasi-reorganization

A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a quasi-reorganization. Such readjustment may include, without limitation, eliminating such deficit retained earnings.

Ca. Fin. Code § 1152

Added by Stats 2012 ch 243 (SB 664),s 3, eff. 1/1/2012.