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12 U.S.C. § 1763 — Dividends

submitted 92 years ago by ch. 750 to r/title-12-BANKS-AND-BANKING · 109 words · no verdicts yet

in plain englishAI-generated · not legal advice

A translation hasn’t been published for this section yet. The official text below is complete and authoritative.

the actual law source: uscode.house.gov ↗public domain

At such intervals as the board of directors may authorize, and after provision for required reserves, the board of directors may declare a dividend to be paid at different rates on different types of shares, at different rates and maturity dates in the case of share certificates, and at different rates on different types of share draft accounts. Dividends credited may be accrued on various types of shares, share certificates, and share draft accounts as authorized by the board of directors. If the par value of a share exceeds $5, dividends shall be paid on all funds in the regular share account once a full share has been purchased.

Source credit: (June 26, 1934, ch. 750, title I, § 117, formerly § 13, 48 Stat. 1221; renumbered § 18 and amended Pub. L. 86–354, § 1, Sept. 22, 1959, 73 Stat. 634; Pub. L. 90–188, § 2, Dec. 13, 1967, 81 Stat. 567; renumbered title I, § 117, Pub. L. 91–468, § 1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L. 93–383, title VII, § 725, Aug. 22, 1974, 88 Stat. 720; Pub. L. 95–22, title III, § 310, Apr. 19, 1977, 91 Stat. 53; Pub. L. 95–630, title V, § 502(b), Nov. 10, 1978, 92 Stat. 3681; Pub. L. 96–221, title II, § 207(b)(10), title III, § 305(c), Mar. 31, 1980, 94 Stat. 144, 147; Pub. L. 97–320, title V, § 524, Oct. 15, 1982, 96 Stat. 1534.)

history & why it existsrecord from the source credit
  • 1934Enacted · Act of June 26, 1934, ch. 750 · 48 Stat. 1221
  • 1959Amended · Pub. L. 86-354 · 73 Stat. 634
  • 1967Amended · Pub. L. 90-188 · 81 Stat. 567
  • 1970Amended · Pub. L. 91-468 · 84 Stat. 994
  • 1974Amended · Pub. L. 93-383 · 88 Stat. 720
  • 1977Amended · Pub. L. 95-22 · 91 Stat. 53
  • 1978Amended · Pub. L. 95-630 · 92 Stat. 3681
  • 1980Amended · Pub. L. 96-221 · 94 Stat. 144, 147
  • 1982Amended · Pub. L. 97-320 · 96 Stat. 1534

A history note hasn’t been published yet. The record shows enactment by ch. 750 on 1934-06-26.

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