California · Financial Code

FIN §4823: References in this division to shareholders’ equity mean shareholders’ equity determined in accordance with generally accepted accounting principles, subject (a) in the case of California state banks

What this law says, in plain English

This statute defines shareholders' equity for purposes of this division as equity calculated using generally accepted accounting principles, with specific application to California state banks.

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References in this division to shareholders’ equity mean shareholders’ equity determined in accordance with generally accepted accounting principles, subject (a) in the case of California state banks or California industrial loan companies, to the provisions of Section 463, and (b) in the case of California state savings associations, to the provisions of Division 2 (commencing with Section 5000).

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