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Part 5 · Accounting. Appropriation of profits  ›  Division 3 · Approval and establishment of the annual financial statements. Appropriation of profits › Section 174

Section 174

(1) The general meeting adopts a resolution as regards the appropriation of the net income. In so doing, it is bound to the annual financial statements as approved and established.

(2) The resolution is to set out the details of the appropriation of the net income, and particularly is to state

1.  the net income;

2.  the amount or non-cash asset to be distributed to the stockholders;

3.  the amounts to be allocated to retained earnings;

4.  any profits carried forward;

5.  the additional expenses resulting from the resolution adopted.

(3) The resolution does not result in an amendment of the annual financial statements as approved and established.

Subdivision 3
Regular general meeting

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