Section 1134.
Cal. Financial Code - FIN § 1134.
in effectNotwithstanding 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: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026