As an administrative standard, the Commissioner generally requires that, at the time when a subject institution which is a commercial bank commences business, the shareholders' equity of such subject institution be not less than 10% of estimated total deposits of the subject institution as of the end of the third year of business.

Note: Authority cited: Section 215, Financial Code. Reference: Section 362, Financial Code.

History

1. Change without regulatory effect amending section and adding new Note filed 8-19-97 pursuant to section 100, title 1, California Code of Regulations (Register 97, No. 34).