§ 509. Surplus
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking
7 P.S. § 509
§ 509. Surplus
A mutual savings bank may accumulate and retain a surplus not in excess of twenty-five percent of the aggregate of its deposits. If its surplus should exceed such amount at the end of any fiscal year, its board of trustees shall divide such excess pro rata among the depositors holding accounts on the last day of such fiscal year.
Credits
1965, Nov. 30, P.L. 847, No. 356, § 509. Amended 1982, April 8, P.L. 262, No. 79, § 9, imd. effective.
7 P.S. § 509, PA ST 7 P.S. § 509
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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