North Dakota § 6-03-34 - Surplus fund required - Dividends only out of earnings not required for
Full text of North Dakota North Dakota Century Code § 6-03-34 — Surplus fund required - Dividends only out of earnings not required for, with citation guidance and answers to common questions.
§ 6-03-34. Surplus fund required - Dividends only out of earnings not required for
surplus. The board of directors of any association organized under this title may declare and pay dividends out of the net profits of the association subject to the limitations of this chapter. Except for cooperative financial institutions, every such association, as its board of directors deems advisable, shall ascertain, set apart, and convert into a surplus fund at least fifty percent of its net earnings until such surplus fund equals one hundred percent of its common stock, and no dividend may be declared upon its stock except from the remaining fifty percent of its net earnings.
Source: official North Dakota text · Last verified 2026-08-27
Frequently Asked Questions About North Dakota § 6-03-34
What does North Dakota Century Code § 6-03-34 cover?
Section 6-03-34 ("Surplus fund required - Dividends only out of earnings not required for") is part of the North Dakota Century Code, the codified statutory law of North Dakota. 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 North Dakota § 6-03-34?
A common citation format is "North Dakota Century Code § 6-03-34" (North Dakota). 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 North Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Dakota official source linked on this page or consult a licensed North Dakota attorney.
How does North Dakota § 6-03-34 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Dakota 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 North Dakota.