§ 1152
37 words·~1 min read·
/ca/financial-code/1152A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A bank which has deficit retained earnings may, with the prior approval of its outstanding shares and of the commissioner, readjust its accounts in a quasi-reorganization. Such readjustment may include, without limitation, eliminating such deficit retained earnings.