6-187. Authority to declare dividends; limitation
45 words·~1 min read·
/az/title-6/6-187A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The board of directors of a bank may declare dividends as allowed by the general laws governing Arizona corporations, except that dividends payable other than in the bank's own stock may be paid out of capital surplus only with the approval of the deputy director.