State Codes and Statutes
Statutes > New-hampshire > TITLEXXXV > CHAPTER393 > 393-29After providing for the requirements of the guaranty fund, cooperative banks, building and loan associations, and savings and loan associations may pay dividends from their net income. A cooperative bank or association may classify its savings accounts according to the character, amount, or duration thereof, or regularity of additions thereto, and each savings account in the same classification shall receive the same ratable portion of earnings except that club accounts may or may not receive dividends. The board of directors of a cooperative bank or association may also determine the minimum balance necessary to entitle an account to receive dividends.
Source. PS 166:11. PL 266:16. 1933, 26:4. RL 314:25. 1945, 140:2. RSA 393:29. 1965, 317:5. 1967, 86:1, eff. June 26, 1967.
