Current as of: 2011
The directors of a credit card institution may declare dividends on common or preferred stock of so much of the net profits of the corporation as they shall judge expedient; but the corporation shall, before the declaration of a dividend from the net profits, carry 50% of its net profits of the preceding period for which the dividend is paid to its surplus fund until the same shall amount to 50% of its capital stock; and thereafter shall carry 25% of its net profits of the preceding period for which the dividend is paid to its surplus fund until the same shall amount to 100% of its capital stock.
Questions & Answers: Credit Cards
Current as of: 2010
Any person who neglects or refuses to obey the process of subpoenas issued by the department of transportation or who, being in attendance, refuses to testify commits a Class C misdemeanor. Each refusal to obey the subpoena or to testify is a separate offense.
[Acts 1897, ch. 10, § 9; Shan., § 3059a28; Code 1932, § 5404; T.C.A. (orig. ed.), § 65-313; Acts 1989, ch. 591, § 113; 1995, ch. 305, § 10.]
U.S. Code Provisions: Utilities
Federal Regulations: Utilities