Nev. Admin. Code § 677.240 - Capital surplus account: Dividends and transfers

1. Dividends may not be paid from the capital surplus account.

2. No funds may be transferred from the capital surplus account once they have been credited to it unless:

(a) The transfer represents payment for the redemption of shares; and

(b) The Commissioner has acquiesced to the transfer in writing.

Notes

Nev. Admin. Code § 677.240

Dep't of Commerce, Thrift Companies Reg. § 4 subsec. 4.11, eff. 1-4-76; Renumbered as subsec. 4.9, 1-4-78; A and renumbered as subsec. 4.11, 12-14-78-NAC A by Admstr. of Financial Institutions, eff. 6-29-84

NRS 677.380