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DIVISION 2. SAVINGS ASSOCIATION LAW 5000-10009›CHAPTER 1. Short Title, General Definitions, and General Provisions 5000-5330›ARTICLE 2. General Definitions 5100-5124

§ 5108

California Financial Code · 2020-11 edition · updated 2026-10-04 · California

“Impaired condition” means a condition in which the assets of an association in the aggregate do not have a value, as determined in accordance with generally accepted accounting principles, equal to or greater than the aggregate amount of liabilities of the association to its creditors, including the holders of its savings accounts and all other persons who are creditors.

(Added by Stats. 1983, Ch. 1091, Sec. 2.)

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California Financial Code

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