Kansas Statutes Annotated
Updated Through the 2018 Legislative Session

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Statute Number:9-910
Chapter Title:BANKS AND BANKING; TRUST COMPANIES
Article Title:BANKING CODE; CAPITAL STOCK AND STRUCTURE
Tax Type:Privilege
Brief Description:Dividends from capital stock prohibited; how current dividends
paid.
Keywords:


Body:

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.



Date Composed: 12/31/2018 Date Modified: 12/31/2018

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