Nevada § 661.235 Limitation on declaring dividend or making distribution; exception

Nevada Statutes

§ 661.235 — Limitation on declaring dividend or making distribution; exception

Nevada § 661.235

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 661Organizational

ASSETS, DIVIDENDS AND DISTRIBUTIONS

This text of Nevada § 661.235 (Limitation on declaring dividend or making distribution; exception) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 661.235 (2026).

Text

1. As used in this section, “net profits” means the remainder of all earnings from operations plus actual recoveries on loans and investments and other assets, after deducting from the total thereof all operating expenses, actual losses, transfers to reserve for loan losses, and all federal and state taxes. 2. Except as otherwise provided in subsection 3, the directors of any state bank shall not declare a dividend or make a distribution of the net profits of the bank until:

(a)The surplus fund of the bank equals its initial stockholders’ or members’ equity, not including its initial surplus fund;

(b)There has first been carried to the surplus fund 10 percent of the previous year’s net profit; and

(c)The bank complies with the requirements set forth in NRS 661.025 . 3. Except as otherwi

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

1. As used in this section, “net profits” means the remainder of all earnings from operations plus actual recoveries on loans and investments and other assets, after deducting from the total thereof all operating expenses, actual losses, transfers to reserve for loan losses, and all federal and state taxes.
2. Except as otherwise provided in subsection 3, the directors of any state bank shall not declare a dividend or make a distribution of the net profits of the bank until:
(a) The surplus fund of the bank equals its initial stockholders’ or members’ equity, not including its initial surplus fund;
(b) There has first been carried to the surplus fund 10 percent of the previous year’s net profit; and
(c) The bank complies with the requirements set forth in NRS 661.025 .
3. Except as otherwise provided in NRS 661.240 , the directors of a state bank that maintains the insurance of deposits required pursuant to the provisions of the Federal Deposit Insurance Act, 12 U.S.C. §§ 1811 et seq., may declare a dividend or make a distribution of so much of the net profits of the bank as they determine is expedient.