51A-3-21. Net profits defined.
54 words·~1 min read·
/sd/title-51/chapter-51-3/51a-3-21·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Net profits shall be equal to the net income or loss as reported by a bank in its reports of condition and income. In computing its net profits under this section, a bank may not add its provision for loan and lease losses to, nor deduct net charge offs from, its reported net income.