---
urn: urn:us-la:rs:6:937
citation: "R.S. 6:937"
status: active
breadcrumb: "Title 6 › Chapter 9 › Part XVII"
acts_citations:
  - { year: 1983, number: 675, section: 1, effective_date: null, role: enactment }
  - { year: 2003, number: 56, section: 1, effective_date: 2003-05-23, role: amendment }
---

# Dividends; requirements

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.