Printable Format17-6421. Special purpose reserves. The directors of a corporation may set apart out of the funds of the corporation available for dividends a reserve or reserves for any proper purpose and may abolish any such reserve.
History: L. 1972, ch. 52, § 48; July 1.
Source or Prior Law:
17-3504; 8 Del. C. § 171.
Cross References to Related Sections:
Declaration of dividends on partly paid shares, see 17-6406.
Declaration and payment of dividends, see 17-6420.
Reliance by directors or designees upon books and records of corporation in declaring and paying dividends, see 17-6422.
Method of paying dividends, see 17-6423.