(a) Upon the decrease of capital of an institution pursuant to an amendment of its articles to reduce its authorized capital, the board of directors may, with the approval of the department and subject to the restrictions, if any, of its articles, distribute to the shareholders of the institution an amount in cash equal to all or part of the amount of the decrease in capital together with a like amount of surplus, if immediately after such distribution the institution would have the capital required by this act and would have surplus in an amount at least equal to its capital.

(b) Any portion of the amount of a decrease in capital which may be but is not distributed to shareholders in accordance with this section shall be transferred to surplus.