9-910.   Dividends from capital stock prohibited; how current dividendspaid.No bank or trust company during the time it shall continue in business, shallpermit to be withdrawn in the form of dividends, any portion of its capitalstock. The current dividends of any bank or trust company shall be paidfrom undivided profits after deducting losses, to be ascertained by generallyaccepted accounting principles at the time ofmaking such dividend. Any bankor trust company may reduce its capital stock as provided in this act.

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