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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 12 - Banks and Banking |
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Chapter VI - Farm Credit Administration |
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SubChapter B - Farm Credit System |
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Part 615 - Funding and Fiscal Affairs, Loan Policies and Operations, and Funding Operations |
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Subpart J - Retirement of Equities and Payment of Dividends |
§ 615.5295 - Payment of dividends.
Latest version.
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§ 615.5295 Payment of dividends.
(a) The board of directors of a bank, association, or service corporation must declare a dividend on a class of stock before any dividends may be paid to stockholders.
(b) No bank, association, or service corporation may declare or pay any dividend unless after declaration or payment of the dividend the institution would continue to meet its regulatory capital standards under this part.
(c) Each System bank, association, and service corporation must exclude any accrued but unpaid dividends from regulatory capital computations under this part and part 628 of this chapter.
[70 FR 53909, Sept. 13, 2005, as amended at 81 FR 49777, July 28, 2016]