California · Financial Code
FIN §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 shareholders of such bank.
What this law says, in plain English
Section 500 of the Corporations Code does not apply to distributions made by banks or bank subsidiaries to their shareholders.
Read the full statutory text
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 shareholders of such bank.
Verify at the official source: California legislative text
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