Usufruct
R.S. 6:937

Dividends; requirements ACTIVE

A. The provisions of R.S. 6:1207, and any rules and regulations promulgated thereunder, shall be applicable to associations in the same manner as they are to savings banks.

B. If a capital stock association results from conversion of a mutual association, a cash dividend shall not be declared to the holders of common stock of the association during the two-year period immediately following the conversion if the payment of a cash dividend would result in the reduction of the net worth account below the amount which existed in that account at the time of conversion.

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JSON Markdown Source (legis.la.gov)

References

Cited by

None.

History

  • enactment Acts 1983, No. 675, §1
  • amendment Acts 2003, No. 56, §1, eff. May 23, 2003

Section navigation

Cite R.S. 6:937

Bluebook
La. Rev. Stat. Ann. § 6:937 (2026).
Permalink
https://theusufruct.com/rs/title-6/section-937
BibTeX
@misc{larevstat-6-937,
  title        = {La. Rev. Stat. Ann. § 6:937},
  howpublished = {Louisiana Revised Statutes},
  year         = {2026},
  url          = {https://theusufruct.com/rs/title-6/section-937},
  note         = {Snapshot 2026-05-22}
}