N.C. Gen. Stat. § 53C-4-7
Directors may declare distributions
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
Provided a bank does not make distributions that reduce its capital below its applicable required capital, the board of directors of a bank may declare such distributions as it deems proper.
Provided a bank does not make distributions that reduce its capital below its applicable required capital, the board of directors of a bank may declare such distributions as it deems proper.
History
(2012-56, s. 4.)
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.