§ 13-7-203 — Dividends

(a) Guaranty capital stock is not entitled to any dividend
until all expenses and losses have been paid and reserves have
been provided as required by law and all interest has been paid
on all savings and investment accounts.
(b) Following compliance with subsection (a) of this
section all liabilities, earnings and undivided profits are
available for dividends on the guaranty capital stock. In
liquidation, after payment of all liabilities and savings and
investment account holders at par with interest, any excess
shall be paid to the guaranty capital stockholders pro rata.