Tennessee Statutes
§ 45-2-404 — Authority to declare dividends
Tennessee § 45-2-404
JurisdictionTennessee
Title45
This text of Tennessee § 45-2-404 (Authority to declare dividends) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Tenn. Code Ann. § 45-2-404 (2026).
Text
The board of directors of a state bank may not declare dividends in any calendar year that exceeds the total of its net income of that year combined with its retained net income of the preceding two (2) years without the prior approval of the commissioner.
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Legislative History
Acts 1969, ch. 36, § 1 (3.318); T.C.A., § 45-229; Acts 2001, ch. 54, § 13.
Nearby Sections
15
§ 45-1-101
Short title§ 45-1-103
General definitions§ 45-1-104
Department to execute laws§ 45-1-106
Salary of commissioner§ 45-1-107
Powers and duties of commissioner§ 45-1-109
Oaths of office§ 45-1-111
Limitation of personal liability§ 45-1-112
Official seal§ 45-1-113
Office facilities§ 45-1-116
Examiners - Employment and dutiesCite This Page — Counsel Stack
Bluebook (online)
Tennessee § 45-2-404, Counsel Stack Legal Research, https://law.counselstack.com/statute/tn/45-2-404.