§ 5120
54 words·~1 min read·
/ca/financial-code/5120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
“Statutory net worth” or “net worth” means the sum of the following:
(a)Issued and outstanding capital stock.
(b)Issued and outstanding capital certificates.
(c)Paid-in surplus.
(d)Retained earnings.
(e)Pledged savings accounts of a mutual association with the approval of the commissioner.
(f)General reserves and other amounts as the commissioner prescribes.