Nevada Administrative Code
Chapter 677 - Thrift Companies
CAPITAL STRUCTURE
Section 677.240 - Capital surplus account: Dividends and transfers
Universal Citation: NV Admin Code 677.240
Current through September 16, 2024
1. Dividends may not be paid from the capital surplus account.
2. No funds may be transferred from the capital surplus account once they have been credited to it unless:
(a) The transfer represents payment for the redemption of shares; and
(b) The Commissioner has acquiesced to the transfer in writing.
Dep't of Commerce, Thrift Companies Reg. § 4 subsec. 4.11, eff. 1-4-76; Renumbered as subsec. 4.9, 1-4-78; A and renumbered as subsec. 4.11, 12-14-78-NAC A by Admstr. of Financial Institutions, eff. 6-29-84
NRS 677.380
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