“Impaired capital” means that the losses or projected losses of a credit union are such that the book value of a member’s share is reduced below 100 percent of the monetary amount of that share when initially purchased plus any accumulated dividends.
Cal. Fin. Code § 14004
Definitions
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Added by Stats. 1982, Ch. 716, Sec. 1.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.