There is a newer version of the California Code
2007 California Financial Code Article 3. Accounting
CA Codes (fin:1951-1952)
FINANCIAL CODESECTION 1951-1952
1951. Any debt due a bank on which interest is past due and unpaid for the period of one year shall be charged off, unless it is well secured or is in process of collection. 1952. The commissioner at any time may require a bank to write down any asset held by it to a valuation which will represent its then fair market value.
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