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Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.513 513 Dividend income

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) This account shall include dividends declared on railway and other stocks, the income from which is the property of the accounting company, whether such stocks are owned by the accounting company and held in its treasury or deposited in trust, or are controlled through lease or otherwise.

(b) Dividends declared shall not be credited prior to actual collection unless their payment is reasonably assured by past experience, guaranty, anticipated provision, or otherwise. (See note C to account 708, “Interest and dividends receivable.”)

(c) Accruals of guaranteed dividends may be included in this account if their payment is reasonably assured.

Note A:  This account shall not include credits for dividends on stocks issued or assumed by the accounting company and owned by it, whether pledged as collateral or held in its treasury, in special deposits, or in sinking or other funds.

Note B:  Dividends on stocks of other companies held in sinking or other funds shall be credited to account 516, “Income from sinking and other funds.”

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Cite this article: FindLaw.com - Code of Federal Regulations Title 49. Transportation 49 CFR § 1201.513 513 Dividend income - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-49-transportation/cfr-sect-49-1201-513/

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