Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 12 - Banks and Banking |
Chapter XII - Federal Housing Finance Agency |
SubChapter B - Entity Regulations |
Part 1239 - Responsibilities of Boards of Directors, Corporate Practices, and Corporate Governance |
Subpart E - Bank Specific Requirements |
§ 1239.33 - Dividends.
Latest version.
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§ 1239.33 Dividends.
A Bank's board of directors may not declare or pay a dividend based on projected or anticipated earnings and may not declare or pay a dividend if the par value of the Bank's stock is impaired or is projected to become impaired after paying such dividend.