{"code":"FIN","codeName":"Financial Code","section":"1133","citation":"Fin. Code, § 1133","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>Notwithstanding the provisions of Section <a href=\"/fin/1132\">1132</a>, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of:</p><p>(a) The retained earnings of the bank;</p><p>(b) The net income of the bank for its last fiscal year; or</p><p>(c) The net income of the bank for its current fiscal year.</p>","text":"Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of: (a) The retained earnings of the bank; (b) The net income of the bank for its last fiscal year; or (c) The net income of the bank for its current fiscal year.","otherVersions":[],"url":"https://blackletter.si/financial-code/distributions-to-shareholders-1133","source":"California Legislative Information bulk export (pubinfo)"}