12 USC § 626 - Dividends; surplus fund

---
identifier: "/us/usc/t12/s626"
source: "usc"
legal_status: "official_prima_facie"
title: "12 USC § 626 - Dividends; surplus fund"
title_number: 12
title_name: "BANKS AND BANKING"
section_number: "626"
section_name: "Dividends; surplus fund"
chapter_number: 6
chapter_name: "FOREIGN BANKING"
subchapter_number: "II"
subchapter_name: "ORGANIZATION OF CORPORATIONS TO DO FOREIGN BANKING"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)"
---


# § 626. Dividends; surplus fund

The directors of any corporation organized under the provisions of this subchapter may, semiannually, declare a dividend of so much of the net profits of the corporation as they shall judge expedient; but each corporation shall, before the declaration of a dividend, carry one-tenth of its net profits of the preceding half year to its surplus fund until the same shall amount to 20 per centum of its capital stock.

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**Source Credit**: (Dec. 23, 1913, ch. 6, § 25A (par.), formerly § 25(a), as added Dec. 24, 1919, ch. 18, 41 Stat. 378; renumbered § 25A, Pub. L. 102–242, title I, § 142(e)(2), Dec. 19, 1991, 105 Stat. 2281.)

## Editorial Notes

### References in Text

This subchapter, referred to in text, was in the original “this section”, meaning section 25A of act , which is classified to this subchapter (§ 611 et seq.).

### Codification

Section is comprised of par. 18 (undesignated) of section 25A of act , which comprises this subchapter. For complete classification of section 25A of this Act, see Codification note set out under .