CHAPTER 5. Corporate Requirements [1100. - 1190.]

Chapter 5 added by Stats. 2011, Ch. 243, Sec. 3.

§§ 1100–1190 · 28 sections

1. ARTICLE 1. Articles, Bylaws, and Names §§ 1100–1107 · 8 sections

   • § 1100 The articles of each bank shall contain the applicable one of the following statements: (a) Except as provided in subdivision (f), if the bank is, or is…
   • § 1101 (a) In this section: (1) “Assessment provision” means the provision in the articles of a bank that complies with the requirements of Section 600.2, as in…
   • § 1102 (a) No amendment of the articles of a bank (other than an amendment set forth in an agreement of merger or in a certificate of ownership executed pursuant to…
   • § 1103 No restated articles of a bank shall become effective unless the certificate setting forth such restated articles is filed with the Secretary of State with the…
   • § 1104 No certificate of determination of a bank shall become effective unless such certificate of determination is filed with the Secretary of State with the…
   • § 1105 No certificate of correction of a bank shall become effective unless such certificate of correction is filed with the Secretary of State with the…
   • § 1106 No certificate of revocation of a bank shall become effective unless such certificate of revocation is filed with the Secretary of State with the…
   • § 1107 (a) A bank may change its name if it files with the commissioner a report on the proposed change not less than 30 days before the change. The report shall be…
2. ARTICLE 2. Shares §§ 1120–1122 · 3 sections

   • § 1120 A bank may, with the approval of its board, determine and from time to time redetermine the par value of any class or series of its shares unless its articles…
   • § 1121 No bank or trust company after October 1, 1949, shall issue any shares before they are fully paid for.
   • § 1122 No bank shall issue any shares in consideration of: (a) Services rendered in the organization of such bank; or (b) Any note (whether or not negotiable and…
3. ARTICLE 3. Distributions to Shareholders §§ 1130–1135 · 6 sections

   • § 1130 This article does not apply to any distribution made to the shareholders of a bank in any proceeding to wind up and dissolve or to liquidate such bank.
   • § 1131 Section 500 of the Corporations Code does not apply to the making by a bank or by any majority-owned subsidiary of a bank of any distribution to the…
   • § 1132 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…
   • § 1133 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…
   • § 1134 Notwithstanding the provisions of Section 1132, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means…
   • § 1135 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…
4. ARTICLE 4. Shareholders’ Equity §§ 1150–1152 · 3 sections

   • § 1150 In determining for purposes of this division whether the shareholders’ equity of a bank or of a proposed bank is adequate, the commissioner shall consider: (a)…
   • § 1151 For purposes of any statute, regulation, or requirement of any governmental official or agency which refers to the capital (including, without limitation,…
   • § 1152 A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a…
5. ARTICLE 5. Directors §§ 1170–1176 · 7 sections

   • § 1170 Any reference in this article to the time a notice is given or sent shall be construed in accordance with Section 118 of the Corporations Code.
   • § 1171 The board of a bank or trust company hereafter organized shall consist of not less than 5 nor more than 25 directors, and no bank or trust company shall amend…
   • § 1172 The board of each bank and of each trust company shall hold a meeting not less than once each calendar quarter. Regular meetings of the board shall be held…
   • § 1173 The commissioner may, in the name of the people of this state, bring or intervene in an action under Section 709 of the Corporations Code to determine the…
   • § 1174 (a) The commissioner shall be deemed to be a party in interest within the meaning of Section 306 of the Corporations Code with respect to a bank and may, in…
   • § 1175 (a) For purposes of Section 316 of the Corporations Code, to the extent that the making by a bank or by any majority-owned subsidiary of a bank of a…
   • § 1176 (a) For purposes of Section 316 of the Corporations Code, the making of a loan or guarantee by a bank or any other extending of credit by a bank contrary to…
6. ARTICLE 6. Shareholders § 1190 · 1 section

   • § 1190 (a) Paragraph (1) of subdivision (b) of Section 1501 of the Corporations Code does not apply to the annual report of any bank with respect to any transaction…