Hyperlawhypertext legal database Bank Act

← Historical versions

Versions of s. 79(3)

B-1.01 — Bank Act · 2 versions · View current text

Historical text comes from the Justice Laws point-in-time corpus and is unofficial — not the official version.

  1. 2012-12-19 to present available View Source
    If shares or membership shares of a bank are issued in payment of a dividend,dividend or patronage allocation, the bank shallmust record in the stated capital account maintained or to be maintained for the shares of the class or seriesseries, or for the membership shares, issued in payment of the dividend or patronage allocation the declared amount of the dividend or patronage allocation stated as an amount of money.
    Full text

    If shares or membership shares of a bank are issued in payment of a dividend or patronage allocation, the bank must record in the stated capital account maintained or to be maintained for the shares of the class or series, or for the membership shares, issued in payment of the dividend or patronage allocation the declared amount of the dividend or patronage allocation stated as an amount of money.

  2. 2003-01-01 to 2012-12-19 View Source

    If shares of a bank are issued in payment of a dividend, the bank shall record in the stated capital account maintained or to be maintained for the shares of the class or series issued in payment of the dividend the declared amount of the dividend stated as an amount of money.