California Code of Regulations › Title 10 - Investment › Chapter 2 - Savings and Loan Commissioner › Subchapter 1 - General Provisions › Article 1 - Definitions › Section 101.100 - Definition of Terms Used in Regulatory Provisions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) "Value or aggregate amount of outstanding
				  shares and investment certificates" referred to in Section
				  5070,
				  6700.1, and
				  8150 of the law.
The above term means the aggregate of the balances
					 representing the liability to holders of shares, including dividends applicable
					 therein, and the aggregate of the balances representing the liability to
					 holders of investment certificates, including interest accrued since the date
					 of the last apportionment and not yet credited to investment certificate or
					 withdrawable share accounts.
(b) "Total Assets" means the total assets as
				  stated on the statement of financial condition as prepared in accordance with
				  generally accepted accounting principles.
(c) "Unpaid balance of all loans," as
				  referred to in Section
				  7170 and
				  7171 of the law, means the total
				  of all loans secured by real property, plus secured advances, property
				  improvement loans and Government National Mortgage Association (GNMA)
				  Mortgage-backed Securities, less any participating interest sold in such loans,
				  any valuation allowance established and wrap-around loan funds withheld for
				  payment on prior liens.
(d)
				  "Insured loans," as referred to in Section
				  7200 through
				  7206 of the law, means loans that
				  are insured or guaranteed wholly or in part by the U.S. Government or one of
				  its agencies.
(e) "Surplus
				  Profits," referred to in Section
				  7410 of the law, means
				  unappropriated retained earnings from prior periods plus unallocated earnings
				  from operations for the current year. Unappropriated retained earnings
				  available for cash or earnings of the current year or of prior years, but such
				  dividends, except with the prior written consent of the commissioner, shall not
				  be paid (1) from such surplus profits of the current year and prior years where
				  there remains a total deficit caused by operations or losses sustained in the
				  current and prior years, or (2) in an amount which, along with any federal
				  income tax payable by reason of the dividend, would be in excess of the
				  accumulated surplus profits.
(f)
				  "Scheduled items" means those assets defined in Section
				  561.15 of the Rules and
				  Regulations for Insurance of Accounts of the Federal Home Loan Bank
				  Board.
(g) "Current market value"
				  means the highest price estimated in terms of money which a property will bring
				  if exposed for sale in the open market with a reasonable time allowed to find a
				  purchaser, buying with knowledge of all the uses and purposes to which the
				  property is adapted and for which it is capable of being used.
(h) "Statutory Net Worth," as referred to in
				  Sections 5120 and
				  6475 of the law, consists of the
				  total of the balances in capital stock, paid-surplus, undivided profits,
				  current earnings and general reserves. In certain preapproved cases this may
				  include subordinated debt. Paid-in capital (permanent capital and paid-in
				  surplus) other than cash shall not be included in statutory net worth without
				  the prior written approval of the commissioner. The commissioner may prescribe
				  additional accounts for either inclusion in or exclusion from statutory net
				  worth.
1. Change
					 without regulatory effect renumbering former Section
					 101 to Section
					 101.100 (Register 87, No. 14). For
					 prior history, see Register 84, No. 49.
Note: Authority cited: Section
						8053,
						Financial Code. Reference: Sections
						5120 and
						6574,
						Financial Code.