{"data":{"id":"us-ky/krs-286.3-350","jurisdiction":"us-ky","citation":"KRS 286.3-350","heading":"When dividends may be declared.","body":"(1) (a) Except as provided in subsection (2) of this section, the board of directors of\nany state bank or trust company may declare a dividend of so much of the net\nprofits as they deem appropriate.\n(b) The net profits referenced in paragraph (a) of this subsectio n shall be\ncomputed by deducting all expenses, losses, and interest and taxes accrued or\ndue from the bank.\n(2) The prior approval of the commissioner shall be required if the total of all dividends\nthat a state bank or trust company intends to declare in any calendar year would\nexceed the total of its net profits of that year combined with its retained net profits\nof the preceding two (2) years, less any required transfers to surplus or a fund for\nthe retirement of preferred stock or debt.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55159","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"d50257f5748c9f99b9edaf3aeb8bd142f4dfcf50e7dddac35a06e70b106fb9e3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.3-340","next":"us-ky/krs-286.3-375"},"notice":"GroundRules: Original legal text. Not legal advice."}