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Cal. Fin. Code § 5120

General Definitions

Known as the Savings Association Law

The act spans §§ 5000–10009 (387 sections).

Amended by Stats. 1985, Ch. 983, Sec. 1.76

“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.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.