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2021 California Code
Financial Code - FIN
DIVISION 5 - CREDIT UNIONS
CHAPTER 1 - General Provisions
ARTICLE 1 - Definitions
Section 14004.
Universal Citation:
CA Fin Code § 14004 (2021)
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14004.
“Impaired capital” means that the losses or projected losses of a credit union are such that the book value of a member’s share is reduced below 100 percent of the monetary amount of that share when initially purchased plus any accumulated dividends.
(Added by Stats. 1982, Ch. 716, Sec. 1.)
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