17-5409. Net worth accounts.

17-5409

Chapter 17.--CORPORATIONS Article 54.--SAVINGS AND LOAN CODE; CAPITAL

      17-5409.   Net worth accounts. On the semiannual closing date, after payment of or provision for all expenses, and the payment of dividends or interest on withdrawable capital, each association shall transfer the balance of earnings to the net worth accounts.

      History:   L. 1943, ch. 133, § 67; L. 1953, ch. 134, § 1; L. 1981, ch. 105, § 3; July 1.