No dividend on stock shall be paid unless the savings bank has the prior written approval of the Commissioner of Banks, except as provided in any rules that the Commissioner of Banks may adopt.
N.C. Gen. Stat. § 54C-44
Stock dividends
1991, c. 680, s. 1; 2001-193, s. 16.
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.