Section 13201 - Initial capital deposits; capital reserves(a) The initial capital deposits required under section 13105 of this title for commencing business shall be paid into an account of the institution known as the "capital reserve" account.(b) The institution shall record on its books the amount that each capital depositor has contributed to such capital reserve, and such amounts shall be evidenced by a certificate issued to the contributor thereof.(c) Dividends or interest may be paid upon the amounts standing to the credit of each owner of a proportionate interest in the capital reserve, in accordance with the terms of the deposit agreement, but in no event shall such dividends or interest be in excess of the maximum rate paid on shares or accounts of the institution for the same period.(d) The capital reserve established pursuant to this section shall be used as a guarantee against losses, contingencies, and impairments of capital, and all losses and expenses not otherwise absorbed shall be charged against it until such time as the conditions in section 13202 of this title are met, provided that the amount credited to each contributor shall be reduced only by the contributor's proportionate share of such losses or expenses.(e) The capital reserve shall be subordinate to all other deposits or share accounts of the institution.(f) The capital contribution standing to the credit of each capital depositor in the capital reserve of the institution shall be transferable, together with any interest or dividends credited thereon, subject to the conditions and restrictions of this subchapter.Added 1999, No. 153 (Adj. Sess.), § 2, eff. 1/1/2001.