No portion of the capital or surplus of any banking institution shall ever be withdrawn by any person or in any way, either in dividends or otherwise, except upon reduction as provided by law. No dividend on common stock shall be made except as provided in section 48.09 .
Minn. Stat. § 48.05
CAPITAL NOT TO BE WITHDRAWN; DIVIDENDS.
Known as the Interstate Banking Act
The act spans §§ 48–48 (81 sections).
(7681) RL s 2997; 1957 c 601 s 7; 1993 c 257 s 15
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.