Sec. 62.158. DIVIDENDS ON CAPITAL STOCK. The board of a capital stock association may declare and pay a dividend out of current or retained income, in cash or additional stock, to the holders of record of the stock outstanding on the date the dividend is declared.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Structure Texas Statutes
Title 3 - Financial Institutions and Businesses
Subtitle B - Savings and Loan Associations
Chapter 62 - Organizational and Financial Requirements
Subchapter D. Operations and Finances
Section 62.151. Computation of Income; Statement of Condition
Section 62.152. Minimum Net Worth Requirement
Section 62.153. Insurance of Savings Accounts
Section 62.154. Limitation on Issuance of Securities
Section 62.156. Preferred Stock
Section 62.157. Series and Classes of Preferred Stock
Section 62.158. Dividends on Capital Stock
Section 62.159. Use of Surplus Accounts and Expense Fund Contributions