California Financial Code 1040 – In this article:(a) “Preopening expenditure” means any …
Current as of: 2024 | Check for updates
|
Other versions
In this article:
(a) “Preopening expenditure” means any obligation incurred, or sum disbursed, by a bank prior to the time when it commences to transact banking business, for the purpose of organizing such bank.
Terms Used In California Financial Code 1040
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(b) “Preopening noncapital expenditure” means any preopening expenditure other than such preopening expenditures as may be capitalized.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)