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" Any vacancy in the board of directors shall be filled by the board, and the directors so appointed shall hold office until the next election. SEC. 13. The board of directors of a bank may declare a dividend of so much of the net profits of the bank, after... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page 18
by Michigan. Banking Division - 1898
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Michigan Reports: Cases Decided in the Supreme Court of Michigan, Volume 161

Michigan. Supreme Court, Randolph Manning, George C. Gibbs, Thomas McIntyre Cooley, Elijah W. Meddaugh, William Jennison, Hovey K. Clarke, Hoyt Post, Henry Allen Chaney, William Dudley Fuller, John Adams Brooks, Marquis B. Eaton, Herschel Bouton Lazell, James M. Reasoner, Richard W. Cooper - 1910 - 806 pages
...at the par value thereof, in addition to the said stock. * * *" It is also provided (section 6102) that : "The board of directors of a bank may declare...taxes accrued or due from said bank, as they shall judge expedient; but before any such dividend is declared not less than onetenth of the net profits...
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Public and Local Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1887
...Dividends and SEC. 13. The board of directors of a bank may declare a divisurpius fund. (lend of go niuch of the net profits of the bank, after providing for...taxes accrued or due from said bank, as they shall judge expedient; but before any such dividend is declared not less than one-tenth of the net profits...
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Documents Accompanying the Journal of the House, Part 3, Issue 2

Michigan. Legislature - 1889 - 730 pages
...filled by the board, and the directors so appointed shall hold office until the next election. SEC. 13. The board of directors of a bank may declare a dividend...taxes accrued or due from said bank, as they shall judge expedient; but before any such dividend is declared not less than one-tenth of the net profits...
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Documents Accompanying the Journal of the House, Part 1

Michigan. Legislature - 1891 - 1144 pages
...filled by the board, and the directors so appointed shall hold office until the next election. SEC. 13. The board of directors of a bank may declare a dividend...all expenses, losses, interest and taxes accrued or clue from said bank, as they símil judge expedient; but before any such dividend is declared not less...
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Annual Report of the Commissioner of the Banking Department of the ..., Volume 2

Michigan. Banking Division - 1891 - 178 pages
...the next election. Dividendsand SEC. 13. The board of directors of a bank may declare a surplus fund. dividend of so much of the net profits of the bank,...taxes accrued or due from said bank, as they shall judge expedient; but before any such dividend is declared not less than one.tenth of the net profits...
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Public Acts and Joint and Concurrent Resolutions of the Legislature of the ...

Michigan - 1891 - 486 pages
...directors of any such corporation may declare a dividend of so much of the net profits of the company, after providing for all expenses, losses, interest and taxes accrued or due from said company, as they shall judge expedient; but before any such dividend is declared not less than onetenth...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1896 - 354 pages
...election. SEC. 13. The board of directors of a bank may declare a dividend of eo mnch of the nct profita of the bank, after providing for all expenses, losses, interest and taxes accrned or dne from said bank, as they shall jndge expedient; bnt before any snch dividend is declared...
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The Laws of Wisconsin

Wisconsin - 1897 - 1392 pages
...SECTION 32. The board of directors of a bank may declare a divideiid from so raucli of its net profits, after providing for all expenses, losses, interest...taxes accrued or due from said bank, as they shall deem expedient; but before any such dividend is declared, not less than one-tenth of the net profits...
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Documents Accompanying the Journal of the House, Part 1

Michigan. Legislature - 1898 - 1158 pages
...pleasure, draw from maid surplus fund the excess over one-tenth of the net profits while said surplus fund is below the 20 per cent requirement. Section...taxes accrued or due from said bank, as they shall judge expedient; but before any such dividend is declared, not less than onetenth of the net profits...
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Annual Report of the Attorney General of the State of Michigan

Michigan. Attorney General's Office, Michigan. Department of Attorney General - 1899 - 188 pages
...one-tenth of the net profits while said surplus fund is below the 20 per cent requirement. Section LS of the general banking law of this State provides...taxes accrued or due from said bank, as they shall judge expedient ; but before any such dividend is declared not less than onetenth of the net profits...
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