8-163 Dividends; withdrawal of capital or surplus prohibited; not made; when. - Nebraska Statutes

8-163. Dividends; withdrawalof capital or surplus prohibited; not made; when.Nobank shall withdraw or permit to be withdrawn, either in the form of dividendsor otherwise, any part of its capital or surplus without the written permissionof the director. If losses have at any time been sustained equal to or exceedingthe undivided profits on hand, no dividends shall be made without the written permission of the director.No dividend shall be made by any bank in an amount greater than the net profitson hand without the written permission of the director. As used in this section,net profits on hand means the remainder of allearnings from current operations plus actual recoveries on loans and investmentsand other assets after deducting from the total thereof all current operatingexpenses, losses, andbad debts, accrued dividends on preferred stock, if any, and federal and state taxes, for thepresent and two immediately preceding calendar years. SourceLaws 1909, c. 10, § 34, p. 82; R.S.1913, § 313; Laws 1919, c. 190, tit. V, art. XVI, § 34, p. 699; C.S.1922, § 8014; C.S.1929, § 8-153; Laws 1933, c. 18, § 34, p. 152; C.S.Supp.,1941, § 8-153; R.S.1943, § 8-156; Laws 1963, c. 29, § 63, p. 160; Laws 1988, LB 996, § 3; Laws 2009, LB327, § 5.