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2019 California Code
Financial Code - FIN
DIVISION 1.1 - BANKING
CHAPTER 3 - Authorization to Engage in Banking
Section 1040.
Universal Citation: CA Fin Code § 1040 (2019)
1040.
In this article:
(a) “Preopening expenditure” means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact banking business, for the purpose of organizing such bank.
(b) “Preopening noncapital expenditure” means any preopening expenditure other than such preopening expenditures as may be capitalized.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
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