12 U.S.C. § 626
Dividends; surplus fund
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 626, Dividends; surplus fund, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/437455
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Full text
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.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone. The law that originally enacted this section predates the public laws loaded here, so only later amendments are listed.
- Federal Deposit Insurance Corporation Improvement Act of 1991House: no recorded tallySenate: 68–15