Fin. Code, § 5120 · Article 2. General Definitions
Fin. Code, § 5120
Verbatim from the official edition
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
“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.
Notes and commentary — not statutory text
History
Amended by Stats. 1985, Ch. 983, Sec. 1.76. Effective September 26, 1985.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=FIN§ionNum=5120.
- Text hash
- sha256 c26f07697bbeec74bbcd1809201c7430ca407ad74e3bee7d81a68db1c6352b5d
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.