§ 31.20.100. Surplus reserve required
A development credit corporation shall set apart a surplus of not less than ten percent of its net earnings in each and every year until such surplus, with any unimpaired surplus paid in, shall amount to one-half of the capital stock. The said surplus shall be kept to secure against losses and contingencies, and whenever the same becomes impaired it shall be reimbursed in the manner provided for its accumulation.
[1959 c 213 § 10.]
Sections: Previous 31.20.010 31.20.020 31.20.030 31.20.040 31.20.050 31.20.060 31.20.070 31.20.080 31.20.090 31.20.100 31.20.110 31.20.120 31.20.130 31.20.140 NextLast modified: April 7, 2009