Section 34. Every trust company shall within thirty days of the close of the calendar year transfer from net profits to its surplus account a sum equal to one-quarter of one per cent of the total amount of such company’s savings deposits as of such year end; provided, however, that such transfer shall not be required of any trust company whose surplus account at that time equals or exceeds the amount of its capital stock.
Section: Previous 27 28 29 30 31 32 33 34 35 36 37 38 38A 39 40 to 47 NextLast modified: September 11, 2015