Nevada Administrative Code (Last Updated: January 6, 2015)

NAC677.240. Capital surplus account: Dividends and transfers.

Latest version.

     1. Dividends may not be paid from the capital surplus account.

     2. No funds may be transferred from the capital surplus account once they have been credited to it unless:

     (a) The transfer represents payment for the redemption of shares; and

     (b) The Commissioner has acquiesced to the transfer in writing.

[Dep’t of Commerce, Thrift Companies Reg. § 4 subsec. 4.11, eff. 1-4-76; Renumbered as subsec. 4.9, 1-4-78; A and renumbered as subsec. 4.11, 12-14-78]—(NAC A by Admstr. of Financial Institutions, eff. 6-29-84)

                    
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