Find Bill
Find Your Legislator
Legislative Deadlines
Oct. 20, 2017
RSS Feed Permanent URL -A +A

2016 Statute



Prev Article 23. - DEVELOPMENT CREDIT CORPORATIONS; HOUSING LAWSNext


17-2333.Same; surplus. Such corporation shall set apart a surplus not less than ten percent (10%) of its net earnings in each and every year until such surplus, with any unimpaired surplus paid in, shall amount to one-half (1/2) of the capital stock. The said surplus shall be kept to secure against losses and contingencies, and whenever the same becomes impaired it shall be reimbursed in the manner provided for its accumulation.

History: L. 1955, ch. 144, § 6; June 30.



Prev Article 23. - DEVELOPMENT CREDIT CORPORATIONS; HOUSING LAWSNext
2017. Powered by KLISS. Rendered: 2017-10-20T20:24:02. Head Rev No: 274447