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2017 Statute



Prev Article 9. - BANKING CODE; CAPITAL STOCK AND STRUCTURENext


9-910. Dividends from capital stock prohibited; how current dividends paid. No dividends shall be paid from the capital stock account of a bank or trust company. The current dividends of any bank or trust company shall be paid from undivided profits after deducting losses. These losses are determined by using generally accepted accounting principles at the time of making the dividend.

History: L. 1947, ch. 102, § 23; L. 1989, ch. 48, § 22; L. 1990, ch. 55, § 1; L. 2015, ch. 38, § 41; July 1.



Prev Article 9. - BANKING CODE; CAPITAL STOCK AND STRUCTURENext
2019. Powered by KLISS. Rendered: 2019-01-15T22:33:57. Head Rev No: 581574(E)