12 C.F.R. § 917.9 Dividends.
Title 12 - Banks and Banking
(a) A Bank's board of directors may declare and pay a dividend only from previously retained earnings or current net earnings and only if such payment will not result in a projected impairment of the par value of the capital stock of the Bank. Dividends on such capital stock shall be computed without preference. (b) The requirement in paragraph (a) of this section that dividends shall be computed without preference shall cease to apply to any Bank that has established any dividend preferences for one or more classes or subclasses of its capital stock as part of its approved capital plan, as of the date on which the capital plan takes effect. [65 FR 25274, May 1, 2000, as amdended at 66 FR 8308, Jan. 30, 2001]
Title 12: Banks and Banking
PART 917—POWERS AND RESPONSIBILITIES OF BANK BOARDS OF DIRECTORS AND SENIOR MANAGEMENT
§ 917.9 Dividends.
