§ 13-6-204 — Reserves

(a) State savings and loan associations, in addition to
the par value of their capital, shall set up and maintain
reserves as follows:
(i) Except as provided in W.S. 13-7-102, before the
declaration of a dividend for any period an association shall
transfer an amount equal to at least five percent (5%) of its
net earnings to a separate reserve account which shall be set up
and maintained for the sole purpose of absorbing losses until
the general reserve is equal to at least twelve percent (12%) of
the savings liability. In the event that any credit to the
general reserve is made in excess of the minimum five percent
(5%) requirement, the dollar amount of the excess may be carried
over as a credit toward the minimum requirement of any
subsequent period. If the general reserve is not equal to at
least twelve percent (12%) of its savings liability, credits, as
above provided, shall again be made to the general reserve until
it equals at least twelve percent (12%) of its savings
liability. The board of directors may make additional transfers
to other reserve accounts.