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Current as of January 01, 2025 | Updated by Findlaw Staff
A mutual savings bank may accumulate and retain a surplus not in excess of twenty-five percent of the aggregate of its deposits. If its surplus should exceed such amount at the end of any fiscal year, its board of trustees shall divide such excess pro rata among the depositors holding accounts on the last day of such fiscal year.
Cite this article: FindLaw.com - Pennsylvania Statutes Title 7 P.S. Banks and Banking § 509. Surplus - last updated January 01, 2025 | https://codes.findlaw.com/pa/title-7-ps-banks-and-banking/pa-st-sect-7-509/
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