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DIVISION 1.1. BANKING 1000-1910›CHAPTER 5. Corporate Requirements 1100-1190›ARTICLE 4. Shareholders’ Equity 1150-1152

§ 1152

California Financial Code · 2018-11 edition · updated 2026-10-04 · California

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. (SB 664) Effective January 1, 2012.)

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California Financial Code

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