Louisiana § 6:937

Louisiana Statutes

§ 6:937

Louisiana § 6:937

Title 6Banks and Banking

This text of Louisiana § 6:937 is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

La. Stat. Ann. § 6:937 (2026).

Text

§937. Dividends; requirements

A.The provisions of R.S. 6:1207, and any rules and regulations promulgated thereunder, shall be applicable to associations in the same manner as they are to savings banks.

B.If a capital stock association results from conversion of a mutual association, a cash dividend shall not be declared to the holders of common stock of the association during the two-year period immediately following the conversion if the payment of a cash dividend would result in the reduction of the net worth account below the amount which existed in that account at the time of conversion. Acts 1983, No. 675, §1; Acts 2003, No. 56, §1, eff. May 23, 2003.

Free access — add to your briefcase to read the full text and ask questions with AI

§937. Dividends; requirements
A. The provisions of R.S. 6:1207, and any rules and regulations promulgated thereunder, shall be applicable to associations in the same manner as they are to savings banks.
B. If a capital stock association results from conversion of a mutual association, a cash dividend shall not be declared to the holders of common stock of the association during the two-year period immediately following the conversion if the payment of a cash dividend would result in the reduction of the net worth account below the amount which existed in that account at the time of conversion.
Acts 1983, No. 675, §1; Acts 2003, No. 56, §1, eff. May 23, 2003.