1981 BANKING LAW. COPYRIGHT RODERICK H. SEEMAN

Article 18 (Provision of Legal Earned Surplus)

Banks must reserve in legal earned surplus at each term of settlement of accounts until it reaches the amount of their paid-in-capital, one-fifth or more of the money paid out as dividends in the appropriation of earnings and one-fifth of monetary profit dividend each time there is a monetary distribution of Article 293-5, Paragraph 1 (mid-term dividends) of the Commercial Code.