New Hampshire Statutes
§ 374:12 — Declaring Dividends
New Hampshire·Title XXXIV PUBLIC UTILITIES·Ch. 374 GENERAL REGULATIONS·Subdivision Accounts and Dividends
No public utility shall declare or pay any dividend except out of net corporate income, and except after setting aside such depreciation reserve, if any, as it may carry in compliance with the provisions of RSA 374:10; provided, that this section shall not prevent the payment of dividends in any year out of any undistributed balance of such net corporate income previously accumulated.
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Legislative History
1913, 98:1. PL 240:11. RL 289:11.
Nearby Sections
15
§ 374:1
Service§ 374:1-a
Exceptions§ 374:10
Depreciation Account§ 374:11
Use of Depreciation Fund§ 374:12
Declaring Dividends§ 374:13
Form of Accounts and Records§ 374:14
False Entries, Etc§ 374:15
Filing§ 374:16
Repealed by 1985, 402:39, V§ 374:17
Neglect to Report§ 374:18
Production of Books, Etc§ 374:19
False Statements, Etc§ 374:2
Charges§ 374:2-a
Alternative to Herbicide Use§ 374:20
Repealed by 1985, 402:39, V