There is a newer version of the California Code
2023
2022
2021
2020
2019
Other previous versions
View our newest version here

2011 California Code
Financial Code
DIVISION 1.1. BANKING [1000 - 1910]
ARTICLE 4. Shareholders Equity
Section 1152


CA Fin Code § 1152 (through 2012 Leg Sess) What's This?

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.

(Added by Stats. 2011, Ch. 243, Sec. 3. Effective January 1, 2012.)

Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.