 | Francis Buchanan Tiffany - Banking law - 1912 - 732 pages
...of dividends or otherwise ; and if losses equal to or exceeding the net profits have been sustained, no dividend shall be made ; and no dividend shall ever be made to an amount greater than the net profits then on hand, deducting therefrom losses and bad debts, all... | |
 | George Folger Canfield - Corporation law - 1913 - 1026 pages
...either in the form of dividends or otherwise, any portion of its capital. If losses have at any time been sustained by any such association, equal to or...dividend shall ever be made by any association, while it continues its banking operations, to an amount greater than its net profits then on hand, deducting... | |
 | Curtis Hillyer - Civil procedure - 1914 - 1628 pages
...either in the form of dividends or otherwise, any portion of its capital. If losses have at any time dv continues its banking operations, to an amount greater than its net profits then on hand, deducting... | |
 | Thomas Conway (Jr.), Ernest Minor Patterson - Banks and banking - 1914 - 452 pages
...same, except to secure a debt previously contracted in good faith, nor shall it ever declare dividends "to an amount greater than its net profits then on...hand, deducting therefrom its losses and bad debts." All of these restrictions are imposed upon State banks that become members. Since they are provisions... | |
 | Louisiana, Robert Hardin Marr - Law - 1915 - 960 pages
...losses have at any time been sustained by any such bank, banking association, corporation or company equal to or exceeding its undivided profits then on hand, no dividend shall be declared; and no dividend shall ever be made by any bank, banking association, corporation or company,... | |
 | William MacDonald - United States - 1916 - 688 pages
...in form of dividends or otherwise, any portion of its capital. And if losses shall at any time have been sustained by any such association equal to or...hand, deducting therefrom its losses and bad debts. . . . SEC. 41. And be it further enacted, That the plates and special dies to be procured by the comptroller... | |
 | William MacDonald - United States - 1916 - 688 pages
...in form of dividends or otherwise, any portion of its capital. And if losses shall at any time have been sustained by any such asso-ciation equal to or...hand, deduct-ing therefrom its losses and bad debts. . . . ******** SEC. 41. And be it further enacted, That the plates and special dies to be procured... | |
 | Law reports, digests, etc - 1917 - 1272 pages
...portion of the capital? The law prohibits the making of a dividend by a national bank from its capital or to an amount greater than its net profits then on...hand, deducting therefrom its losses and bad debts. The fact of the declaration of a dividend is in effect the assertion by the board of directors that... | |
 | United States. Office of the Comptroller of the Currency - Banking law - 1919 - 156 pages
...either in the form of dividends or otherwise, any portion of its capital. If losses have at any time been sustained by any such association, equal to or...dividend shall ever be made by any association, while it continues its banking operations, to an amount greater than its net profits then on hand, deducting... | |
 | Massachusetts - Session laws - 1922 - 1076 pages
...otherwise, any portion of its capital. No dividend shall be paid by any such corporation, while it continues its banking operations, to an amount greater than its net profits then on hand, exclusive of the surplus fund provided for in this section, after deducting from such net profits its... | |
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If losses have at any time been sustained by any such association, equal to or exceeding its undivided profits then on hand, no dividend shall be made; and no dividend shall ever be made by any association, while it continues its banking operations, to... 
