17-6421. Special purpose reserves.
36 words·~1 min read·
/ks/chapter-17/17-6421A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
17-6421. Special purpose reserves. The directors of a corporation may set apart out of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.