Sec. 33-193. Distribution of profits; sinking fund. - Connecticut Statutes

      Sec. 33-193. Distribution of profits; sinking fund. There shall be such distribution of the profits or earnings of such association among the shareholders as is prescribed by the bylaws; provided no distribution shall be declared or paid until a sum equal to ten per cent of the net profits is appropriated for a contingent or sinking fund and until there has been thereby accumulated a sum equal to twenty per cent of the capital stock.

      (1949 Rev., S. 5302).