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California Financial Code

§ 1040

FIN § 1040 Effective Jan 1, 2012Div. 1.1 · Ch. 3

Statute text

View on leginfo.ca.gov
In this article:
(a)“Preopening expenditure” means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact banking business, for the purpose of organizing such bank.
(b)“Preopening noncapital expenditure” means any preopening expenditure other than such preopening expenditures as may be capitalized.

Legislative history

Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.

Source: California Financial Code § 1040 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.