Section 36a-136-41 - Declaration or payments of dividends after conversionThe converting institution may declare or pay a dividend on its shares after the conversion if:
(1) The dividend will not reduce its regulatory capital below the amount required for the liquidation account under section 36a-136-37 of the Regulations of Connecticut State Agencies;(2) It complies with the requirements of section 36a-110 of the Connecticut General Statutes; and(3) It does not return any capital, other than ordinary dividends, to purchasers during the term of the business plan submitted with the conversion.Conn. Agencies Regs. § 36a-136-41
Adopted effective September 7, 2007