Financial Code section 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 of redeeming its redeemable shares; and

(b)

With the prior approval of its outstanding shares and of the commissioner, otherwise make a distribution to its shareholders in connection with a reduction of its contributed capital.

Source: Section 1134, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=FIN§ionNum=1134.­ (updated Jan. 1, 2012; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 1134's source at ca​.gov