Idaho § 26-2410 - Earned surplus
Full text of Idaho Idaho Statutes § 26-2410 — Earned surplus, with citation guidance and answers to common questions.
§ 26-2410. Earned surplus
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 capital stock then outstanding. Whenever the amount of surplus established herein shall become impaired, it shall be built up again to the required amount in the manner provided for its original accumulation. Net earnings and surplus shall be determined by the board of directors, after providing for such reserves as said directors deem desirable, and the determination of the directors made in good faith shall be conclusive on all persons.
Frequently Asked Questions About Idaho § 26-2410
What does Idaho Statutes § 26-2410 cover?
Section 26-2410 ("Earned surplus") is part of the Idaho Statutes, the codified statutory law of Idaho. 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 Idaho § 26-2410?
A common citation format is "Idaho Statutes § 26-2410" (Idaho). 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 Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 26-2410 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho 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 Idaho.