N.Y. Banking Law § 111: Profits; credits to surplus fund and to undivided profits

§ 111. Profits; credits to surplus fund and to undivided profits. In

any case where the combined capital stock, surplus fund and undivided

profits of a bank or trust company do not equal ten per centum of its

net deposit liabilities, the superintendent of financial services may in

his or her discretion require such bank or trust company at the close of

each accounting period to credit its surplus fund with a portion of its

net profits for such period, not to exceed ten per centum thereof, until

its combined capital stock, surplus fund and undivided profits equal ten

per centum of its net deposit liabilities. For the purposes of this

section, the term "net deposit liabilities" shall mean total deposits

including all amounts due to national banks, banks, bankers, trust

companies and savings banks, the amounts due on certified and cashier's

checks, and for unpaid dividends less the amounts of balances due from

national banks, banks, bankers, and trust companies and cash items in

process of collection payable immediately upon presentation in the

United States.