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DIVISION 2. SAVINGS ASSOCIATION LAW 5000-10009›CHAPTER 2. Corporate Organization and Corporate Changes 5400-5868›ARTICLE 10. Mutual Holding Companies 5860-5868

§ 5864

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

In connection with reorganization pursuant to the provisions of this article, a mutual association may, subject to the approval of the commissioner, retain capital assets at the holding company level to the extent that the capital exceeds adequate reserves as prescribed by state or federal law.

(Added by Stats. 1988, Ch. 718, Sec. 10.)

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California Financial Code

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