Fabio
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Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
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| LegalText | 12 U.S.C. § 626 | Dividends; surplus fund | us | united_states_code | code_section | 12 | BANKS AND BANKING | 6 | FOREIGN BANKING | 626 | 12 U.S.C. § 626 | current | 119-100 | 2026-06-26 | official | https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip | /us/usc/t12/s626 | data/legal/raw/us/code/title-12/usc12.xml | 4fcd0d2b0185007dc9b0c80e3510b8d7590351fcef32ea9003db7a21c0c6cb49 | e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa | fcffb6c3082ec8497b851b31e993eb5847aa5985374942a8123511c174e9ae74 | 2026-07-04 | official |
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12 U.S.C. § 626 - Dividends; surplus fund
Text
The directors of any corporation organized under the provisions of this subchapter may, semiannually, declare a dividend of so much of the net profits of the corporation as they shall judge expedient; but each corporation shall, before the declaration of a dividend, carry one-tenth of its net profits of the preceding half year to its surplus fund until the same shall amount to 20 per centum of its capital stock.
(Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)
Notes
Editorial Notes
References in TextThis subchapter, referred to in text, was in the original “this section”, meaning section 25A of act Dec. 23, 1913, which is classified to this subchapter (§ 611 et seq.).
Codification Section is comprised of par. 18 (undesignated) of section 25A of act Dec. 23, 1913, which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under section 611 of this title.