California Financial Code

§ 8010

FIN § 8010 Effective Sep 26, 1989Div. 2 · Ch. 7 · Art. 1

Statute text

The commissioner, after a determination of value made in accordance with Article 4 (commencing with Section 8150) of Chapter 7, may order that assets, individually or in the aggregate, to the extent that the assets are overvalued on an association’s books, be charged off against current operations, or that a special reserve or reserves equal to the overvaluation be set up by transfers from retained earnings or reserves.

Legislative history

Amended by Stats. 1989, Ch. 868, Sec. 10. Effective September 26, 1989.