§412:5A-203  Paid-in capital and surplus.  Every
international banking corporation shall at all times have paid-in capital and
surplus in such amounts as shall be established for all international banking
corporations 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 banking
corporation need have only twenty-five per cent of the required capital
paid-in, and the remainder may be paid up in installments of at least ten per
cent of total required capital every two months thereafter; and



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