§ 5864
46 words·~1 min read·
/ca/financial-code/5864A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In connection with reorganization pursuant to the provisions of this article, a mutual association may, subject to the approval of the commissioner, retain capital assets at the holding company level to the extent that the capital exceeds adequate reserves as prescribed by state or federal law.