2012 Statute
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9-911. 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. |
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