12 CFR 917.9 - Dividends.

§ 917.9 Dividends.
(a) A Bank's board of directors may declare and pay a dividend only from previously retained earnings or current net earnings and only in accordancewith any other applicable limitations on dividends set forth in the Act or this chapter. Dividends on such capital stock shall be computed without preference.
(b) 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.
(c) The requirement in paragraph (a) of this section that dividends be computed without preference shall cease to apply to any Bank that has established any dividend preferences for 1 or more classes or subclasses of its capital stock as part of its approved capital plan, as of the date on which the capital plan takes effect.
[71 FR 78051, Dec. 28, 2006]
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United States Code

Title 12 published on 2015-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR Part 917 after this date.

  • 2015-11-19; vol. 80 # 223 - Thursday, November 19, 2015
    1. 80 FR 72327 - Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance Matters
      GPO FDSys XML | Text
      FEDERAL HOUSING FINANCE AGENCY, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, FEDERAL HOUSING FINANCE BOARD, Office of Federal Housing Enterprise Oversight
      Final rule.
      The final rule is effective on December 21, 2015.
      12 CFR Parts 914 and 917