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§ 909. Retention of certain earnings

Oklahoma Statutes AnnotatedTitle 18. Corporations

Oklahoma Statutes Annotated
Title 18. Corporations (Refs & Annos)
Chapter 20. Oklahoma Business Development Corporation Act
18 Okl.St.Ann. § 909
§ 909. Retention of certain earnings
Each year the corporation shall set apart as earned surplus not less than ten percent (10%) of its net earnings for the preceding fiscal year until such surplus shall be equal in value to one-half (1/2) of the amount paid in on the capital stock then outstanding. Whenever the amount of surplus so established shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation.

Credits

Laws 1970, c. 187, § 9, emerg. eff. April 13, 1970.
18 Okl. St. Ann. § 909, OK ST T. 18 § 909
Current with emergency effective legislation through Chapter 378 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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