ARTICLE 7. Statutory Net Worth; Reserve Accounts [6475. - 6477.]

Article 7 added by Stats. 1983, Ch. 1091, Sec. 2.

§§ 6475–6477 · 3 sections

• § 6475 (a) Each association shall maintain an adequate statutory net worth appropriate for the conduct of its business and the protection of its savings account…
• § 6476 Each association shall set up and maintain the reserves required by, and may set up and maintain any additional reserves that are permitted by, this division.…
• § 6477 Any association which, for the purpose of evading provisions of this division or any order of the commissioner, knowingly participates, directly or indirectly,…