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Current as of January 01, 2023 | Updated by FindLaw Staff
If the commissioner finds that the shareholders' equity of a bank is not adequate or that the making by a bank or by any majority-owned subsidiary of a bank of a distribution to the shareholders of the bank would be unsafe or unsound for the bank, the commissioner may order the bank and its majority-owned subsidiaries not to make any distribution to the shareholders of the bank. In addition to the order authorized by this section, the commissioner may levy a civil penalty against the bank pursuant to Section 329.
Cite this article: FindLaw.com - California Code, Financial Code - FIN § 1135 - last updated January 01, 2023 | https://codes.findlaw.com/ca/financial-code/fin-sect-1135/
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