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2024 Kansas Statutes
Chapter 9 - Banks And Banking; Trust Companies
Article 9 - Banking Code; Capital Stock And Structure
9-910 Dividends from capital stock prohibited; how current dividends paid.
Universal Citation:
KS Stat § 9-910 (2024)
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9-910. Dividends from capital stock prohibited; how current dividends paid.
No dividends shall be paid from the capital stock account of a stock bank or trust company. The current dividends of any stock bank or trust company or of any mutual bank shall be paid from undivided profits after deducting losses. These losses are determined by using generally accepted accounting principles at the time of making the dividend.
History: L. 1947, ch. 102, § 23; L. 1989, ch. 48, § 22; L. 1990, ch. 55, § 1; L. 2015, ch. 38, § 41; L. 2018, ch. 75, § 18; July 1.
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