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12 U.S.C. · Banks and Banking
12 U.S.C. § 626

Dividends; surplus fund

Ch. 6 — FOREIGN BANKING
Title 12 U.S.C. ● ACTIVE Primary Source Ch. 6
Statutory Text

12 U.S.C. § 626 — Dividends; surplus fund

U.S.C. Title 12 - BANKS AND BANKING 12 U.S.C. United States Code, 2023 Edition Title 12 - BANKS AND BANKING CHAPTER 6 - FOREIGN BANKING SUBCHAPTER II - ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING Sec. 626 - Dividends; surplus fund From the U.S. Government Publishing Office, www.gpo.gov

§626. Dividends; surplus fund

The directors of any corporation organized under the provisions of this subchapter may, semiannually, declare a dividend of so much of the net profits of the corporation as they shall judge expedient; but each corporation shall, before the declaration of a dividend, carry one-tenth of its net profits of the preceding half year to its surplus fund until the same shall amount to 20 per centum of its capital stock.

(Dec. 23, 1913, ch. 6, §25A (par.), formerly §25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered §25A, Pub. L. 102–242, title I, §142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

Editorial Notes

References in Text This subchapter, referred to in text, was in the original "this section", meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§611 et seq.).

Codification Section is comprised of par. 18 (undesignated) of section 25A of act Dec. 23, 1913, which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title.

Source: uscode.house.gov — public domain Official Source ↗
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The statutory text of 12 U.S.C. § 626 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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Ch. 6 — FOREIGN BANKING
12 U.S.C. § 60112 U.S.C. § 60212 U.S.C. § 60312 U.S.C. § 60412 U.S.C. § 604a12 U.S.C. § 60512 U.S.C. § 61112 U.S.C. § 611a12 U.S.C. § 61212 U.S.C. § 61312 U.S.C. § 61412 U.S.C. § 61512 U.S.C. § 61612 U.S.C. § 61712 U.S.C. § 61812 U.S.C. § 61912 U.S.C. § 62012 U.S.C. § 62112 U.S.C. § 62212 U.S.C. § 62312 U.S.C. § 62412 U.S.C. § 62512 U.S.C. § 62612 U.S.C. § 62712 U.S.C. § 62812 U.S.C. § 62912 U.S.C. § 63012 U.S.C. § 63112 U.S.C. § 63212 U.S.C. § 633
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