DIVISION 1.1. BANKING 1000-1910›CHAPTER 5. Corporate Requirements 1100-1190›ARTICLE 3. Distributions to Shareholders 1130-1135
§ 1133
California Financial Code · 2018-11 edition · updated 2026-10-04 · California
Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of:
(a) The retained earnings of the bank;
(b) The net income of the bank for its last fiscal year; or
(c) The net income of the bank for its current fiscal year.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)
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