New York Laws
Article 3 - Banks and Trust Companies
111 - Profits; Credits to Surplus Fund and to Undivided Profits.

§ 111. Profits; credits to surplus fund and to undivided profits. In
any case where the combined capital stock, surplus fund and undivided
profits of a bank or trust company do not equal ten per centum of its
net deposit liabilities, the superintendent of financial services may in
his or her discretion require such bank or trust company at the close of
each accounting period to credit its surplus fund with a portion of its
net profits for such period, not to exceed ten per centum thereof, until
its combined capital stock, surplus fund and undivided profits equal ten
per centum of its net deposit liabilities. For the purposes of this
section, the term "net deposit liabilities" shall mean total deposits
including all amounts due to national banks, banks, bankers, trust
companies and savings banks, the amounts due on certified and cashier's
checks, and for unpaid dividends less the amounts of balances due from
national banks, banks, bankers, and trust companies and cash items in
process of collection payable immediately upon presentation in the
United States.

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