§ 5108
59 words·~1 min read·
/ca/financial-code/5108A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Impaired condition” means a condition in which the assets of an association in the aggregate do not have a value, as determined in accordance with generally accepted accounting principles, equal to or greater than the aggregate amount of liabilities of the association to its creditors, including the holders of its savings accounts and all other persons who are creditors.