§412:5A-203  Paid-in capital and surplus.  Everyinternational banking corporation shall at all times have paid-in capital andsurplus in such amounts as shall be established for all international bankingcorporations by rule by the commissioner; provided, that:

(1)  Paid-in capital shall at no time be less than$750,000, except that upon receiving its approval the international bankingcorporation need have only twenty-five per cent of the required capitalpaid-in, and the remainder may be paid up in installments of at least ten percent of total required capital every two months thereafter; and

(2)  The minimum required surplus shall be twenty percent of capital and need not be paid in or accumulated unless and until theinternational banking corporation has declared a dividend, whereupon at leastten per cent of its net profits shall be paid to surplus until the requiredminimum surplus has been fully paid up. [L 1993, c 350, pt of §1]