Section 4824.

Latest version.

In determining for purposes of this division whether the shareholders' equity of a California state depository corporation will be adequate:

(a) In case the corporation is, or is to convert into, a California state bank, the commissioner shall consider the factors specified in Section 660.

(b) In case the corporation is, or is to convert into, a California state savings association or a California industrial loan company, the commissioner shall consider factors equivalent to those specified in Section 660.

(Amended by Stats. 1996, Ch. 1064, Sec. 473. Effective January 1, 1997. Operative July 1, 1997.)

                    
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