North Carolina General Statutes 53C-4-7. Directors may declare distributions
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In North Carolina General Statutes 53C-4-7
- capital: as used in this Chapter shall mean an amount equal to the amount calculated by application of the definition of such replacement term. See North Carolina General Statutes 53C-1-4
Provided a bank does not make distributions that reduce its capital below its applicable required capital, the board of directors of a bank may declare such distributions as it deems proper. (2012-56, s. 4.)