9-1902a. Undercapitalized, when.

9-1902a

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES Article 19.--BANKING CODE; DISSOLUTION; INSOLVENCY

      9-1902a.   Undercapitalized, when. A bank or trust company is critically undercapitalized when the ratio of its capital to total assets is equal to or less than 2.0%. For the purposes of this section, capital shall be the sum total of the institution's common stock, surplus, undivided profits, capital reserves, noncumulative perpetual preferred stock and outstanding cumulative perpetual preferred stock (including related surplus).

      History:   L. 1993, ch. 7, § 1; March 18.