{"code":"FIN","codeName":"Financial Code","section":"1132","citation":"Fin. Code, § 1132","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1.1. BANKING [1000. - 1910.]","url":"https://blackletter.si/financial-code/division-1.1"},{"name":"CHAPTER 5. Corporate Requirements [1100. - 1190.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-5"},{"name":"ARTICLE 3. Distributions to Shareholders [1130. - 1135.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-5/article-3"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3.   (SB 664)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds the lesser of:</p><p>(a) The retained earnings of the bank; or</p><p>(b) The net income of the bank for its last three fiscal years, less the amount of any distributions made by the bank or by any majority-owned subsidiary of the bank to the shareholders of the bank during such period.</p>","text":"Neither a bank nor any majority-owned subsidiary of a bank shall make any distribution to the shareholders of such bank in an amount which exceeds the lesser of: (a) The retained earnings of the bank; or (b) The net income of the bank for its last three fiscal years, less the amount of any distributions made by the bank or by any majority-owned subsidiary of the bank to the shareholders of the bank during such period.","otherVersions":[],"url":"https://blackletter.si/financial-code/distributions-to-shareholders-1132","source":"California Legislative Information bulk export (pubinfo)"}