Cal. FIN § 31232
This is the official text of Cal. FIN § 31232, part of California’s Financial Code — regulates banks, credit unions, lenders, and other financial institutions.
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Official statutory text
If the commissioner finds, with respect to an application for approval for a licensee to make, or to obligate itself to make, a distribution to its shareholders:
(a) That for the applicant to make, or to obligate itself to make, the distribution will not endanger the applicant’s ability to provide financing assistance and management assistance to business firms in this state; and
(b) That for the applicant to make, or to obligate itself to make, the distribution will not be unsafe or unsound; the commissioner shall approve the application. If, after notice and a hearing, the commissioner finds otherwise, he or she shall deny the application.
(a) That for the applicant to make, or to obligate itself to make, the distribution will not endanger the applicant’s ability to provide financing assistance and management assistance to business firms in this state; and
(b) That for the applicant to make, or to obligate itself to make, the distribution will not be unsafe or unsound; the commissioner shall approve the application. If, after notice and a hearing, the commissioner finds otherwise, he or she shall deny the application.
Status: in_force · Read it on the official government site
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