surplus
Defined in 6 dictionaries — Case Law, U.S. Code, Cyclopedic (1922), Bouvier (1914), Black's (1910), Anderson (1889)
Definitions from Case Law
From 275 U.S. 215 - Willcuts v. Milton Dairy Co. · 1927Most cited · 192 citing opinions
describes such part of the excess in the value of the corporate assets as is treated by the corporation as part of its permanent capital, usually carried on the books in a separate 'surplus account
United States Code
2 U.S.C. § 622 — in this section
The term “surplus” means, with respect to a fiscal year, the amount by which receipts exceeds 2 outlays during that year.
12 U.S.C. § 635A — in this section (2 versions over time)
In paragraph (1), the term "surplus" means the amount (if any) by which—
(A) the sum of the interest and fees collected by the Bank; exceeds
(B) the sum of—
(i) the funds set aside to cover expected losses on transactions financed by the Bank; and
(ii) the costs incurred to cover the administrative expenses of the Bank.
26 U.S.C. § 833 — in this section
The adjusted surplus as of the beginning of the organization's 1st taxable year beginning after December 31, 1986, shall be its surplus as of such time. For purposes of the preceding sentence and subsection (c)(3)(C), the term “surplus” means the excess of the total assets over total liabilities as shown on the annual statement.
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
That which is left from a fund which has been appropriated for a particular purpose; the remainder of a thing; the overplus; the residue. See 18 Ves. 466.
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
That which is left from a fund which has been appropriated for a particular purpose; the remainder of a thing; the overplus; the residue. See 18 Ves. 466. It has an appropriate application to personal property or money, but, when used in a will, may include real estate; Byrnes v. Baer, 86 N. Y. 210. See Savings Banks; Reserve. Whether a policy holder in a life insurance company shall participate in the surplus rests in the discretion of the officers as to what amount shall be distributed and when; Equitable Life Assur. Soc. v. Brown, 213 U. S. 25, 29 Sup. Ct. 404, 53 L. Ed. 682. A policy which permits participation in surplus earnings is (in the absence of wrongdoing or mistake) entitled only to a distribution according to the method adopted by the company and not to his share of the entire surplus; Greeff v. Life Assur. Soc., 160 N. Y. 19, 54 N. E. 712, 46 L. R. A. 288, 73 Am. St. Rep. 659. The fact that stockholders claim the surplus of an insurance company, and the officers of the company do not actively deny the claim, gives no ground for a receivership at the suit of a policy holder claiming that the surplus belongs to the policy holders; Equitable Life Assur. Soc. v. Brown, 213 U. S. 25, 29 Sup. Ct. 404, 53 L. Ed. 682. See Profits.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
That which remains of a fund appropriated for a particular purpose; the remainder of a thing; the overplus; the residue. See People's F. Ins. Co. v. Parker, 35 N. J. Law, 577; Towery v. McGaw (Ky.) 56 S. W. 727; Appcal of Coates, 2 Pa. 137.
— Surplus earnings. See Earnings.
A Dictionary of Law
William C. Anderson · 1889
2 Excess; residue. Of an insurance company: the fund it has in excess of its capital stock after paying the debts.' "Surplus earnings" of a company: the amount owned by it over and above its capital and actual liabilities.* As used in a will, may have a meaning different from " overplus " or that which shall happen to be left over.^ Where a contractor was to fill a trench and haul away the surplus, it was held that the surplus belonged to him.''