Connecticut § 33-193 - Distribution of profits; sinking fund.

Full text of Connecticut Connecticut General Statutes § 33-193 — Distribution of profits; sinking fund., with citation guidance and answers to common questions.

§ 33-193. Distribution of profits; sinking fund.

Sec. 33-193. Distribution of profits; sinking fund. There shall be a distribution of the profits or surplus of an association among the member shareholders as is prescribed by the association's bylaws. The board of directors of an association may declare a sum of not more than forty per cent of the net profits or surplus to be appropriated for a contingent or sinking fund, an unallocated reserve fund or a collective account as may be prescribed in the association's bylaws.

(1949 Rev., S. 5302; P.A. 19-65, S. 8.)

History: P.A. 19-65 replaced “earnings” with “surplus”, replaced former provision re distribution of profits or earnings with provision re the authority of board of directors of an association to appropriate portion of the net profits or surplus and made technical changes.

Source: official Connecticut text · Last verified 2026-08-27

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Frequently Asked Questions About Connecticut § 33-193

What does Connecticut General Statutes § 33-193 cover?

Section 33-193 ("Distribution of profits; sinking fund.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Connecticut § 33-193?

A common citation format is "Connecticut General Statutes § 33-193" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Connecticut law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.

How does Connecticut § 33-193 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.