dividend credit rule

dividend-credit rule. The principle that a corporate reserve fund amassed from unpaid dividends on preferred stock must be used to pay subsequent dividends on preferred stock before dividend payments on common stock. — Also termed cast-iron-pipe doctrine. [Cases: Corporations 156. C.J.S. Corporations § 158.]

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词条贡献者

法律翻译Celia，毕业于新加坡知名法学院，专注翻译各类与酒店、博彩及休闲有关的法律文件。