Delaware § 171 Special purpose reserves

Delaware Statutes

§ 171 — Special purpose reserves

Delaware·Title 8·Ch. 1 GENERAL CORPORATION LAW·Subch. Stock and Dividends

The directors of a corporation may set apart out of any of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.

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Legislative History

8 Del. C. 1953, § 171; 56 Del. Laws, c. 50.

Nearby Sections

5

§ 170

Dividends; payment; wasting asset corporations

§ 171

Special purpose reserves

§ 172

Liability of directors and committee members as to dividends or stock redemption

§ 173

Declaration and payment of dividends

§ 174

Liability of directors for unlawful payment of dividend or unlawful stock purchase or redemption; exoneration from liability; contribution among directors; subrogation

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