§ 34-9-120

Before any such capital notes or debentures are retired or paid by the bank any existing deficiency of its capital, disregarding the notes or debentures to be retired, must be paid in cash, to the end that the sound capital assets shall at least equal the capital stock of the bank. HISTORY: 1962 Code Section 8-153; 1952 Code Section 8-153; 1942 Code Section 7836; 1935 (39) 464.