California § 1133 - Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsid
Full text of California Public Contract Code - PCC § 1133 — Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsid, with citation guidance and answers to common questions.
§ 1133. Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsid
Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsidiary of a bank may, with the prior approval of the commissioner, make a distribution to the shareholders of such bank in an amount not exceeding the greatest of: (a) The retained earnings of the bank; (b) The net income of the bank for its last fiscal year; or (c) The net income of the bank for its current fiscal year.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 1133
What does Public Contract Code - PCC § 1133 cover?
Section 1133 ("Notwithstanding the provisions of Section 1132, a bank or a majority-owned subsid") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 1133?
A common citation format is "Public Contract Code - PCC § 1133" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 1133 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.