RS 6:218
A state bank may not use share-payment funds that count as capital stock to pay organization, sale, or underwriting expenses; with the commissioner’s approval, it may pay reasonable expenses from surplus or undivided profits.
- Jurisdiction
- United States — Louisiana
- Instrument
- Act or statute
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- Undated source snapshot
- Language
- en
- Official source
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capital stock organization expenses share underwriting
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RS 6:218
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