48.08.030  <<  48.08.040 >>   48.08.050

Illegal dividends, reductionsPenalty against directors.

Any director of a domestic stock insurer who votes for or concurs in the declaration or payment of any dividend to stockholders or a reduction of capital stock not authorized by law shall, in addition to any other liability imposed by law, be guilty of a gross misdemeanor.
[1947 c 79 § .08.04; Rem. Supp. 1947 § 45.08.04.]
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