9-911. Declarations of dividends. - Kansas Statutes

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.