§ 19-5-19 - Dividends. - Rhode Island Statutes

SECTION 19-5-19

   § 19-5-19  Dividends. – At those intervals that the board of directors may authorize, and afterprovision for required reserves, the board of directors may declare a dividendto be paid at different rates on different types of shares, at different ratesand maturity dates in the case of share certificates, and at different rates ondifferent types of share draft accounts. Dividends may be declared, in whole orin part, from profits or undivided earnings. Dividends credited may be accruedon various types of shares, share certificates, and share draft accounts asauthorized by the board of directors.