California Law (Last Updated: March 4, 2014) |
Financial Code - FIN |
Division 5. CREDIT UNIONS |
Chapter 1. General Provisions |
ARTICLE 1. Definitions |
Section 14004.
Latest version.
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"Impaired capital" means that the losses or projected losses of a credit union are such that the book value of a member's share is reduced below 100 percent of the monetary amount of that share when initially purchased plus any accumulated dividends.
(Added by Stats. 1982, Ch. 716, Sec. 1.)