9-911

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES

Article 9.--BANKING CODE; CAPITAL STOCK AND STRUCTURE

     
9-911.   Declarations of dividends.
The directors of any bank or trust company may declare dividends from the
undivided profits, but before the declaration of any dividend each bank or
trust company shall transfer 25% of its net profits since the last
preceding dividend to its surplus fund, until the surplus fund shall equal
the total capital stock.

     
History:   L. 1947, ch. 102, § 24; L. 1989, ch. 48, § 23; July 1.