Allocation and Distribution of Net Income. 1. The Board of Governors shall determine at least annually what part of the net income of the Bank shall be allocated, after making provision for reserves, to retained earnings or other purposes and what part, if any, shall be distributed to the members. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a Super Majority vote as provided in Article 28.
Allocation and Distribution of Net Income. GAIN OR LOSS. A "valuation date" under this Plan is each Accounting Date and each interim valuation date determined under Section 10.14. As of each valuation date the Advisory Committee must adjust Accounts to reflect net income, gain or loss since the last valuation date. The valuation period is the period beginning the day after the last valuation date and ending on the current valuation date.
Allocation and Distribution of Net Income. 1. The Board of Governors shall determine at least annually what part of the Bank’s net income, after making provisions for reserves and, if necessary, against possible losses under paragraph 1 of Article 17 of this Agreement, shall be allocated to surplus or other purposes and what part, if any, shall be distributed. Any such decision on the allocation of the Bank’s net income to other purposes shall be taken by a majority of not less than two-thirds of the Governors, representing not less than two-thirds of the total voting power of the members. No such allocation, and no distribution, shall be made until the general reserve amounts to at least ten (10) per cent of the authorized capital stock.
Allocation and Distribution of Net Income. GAIN, OR LOSS. As of each -------------------------------------------------------- Valuation Date the Plan Administrator shall adjust the Accounts to reflect net income, gain, or loss since the last Valuation Date in accordance with the provisions of this Section. If the Plan is a Profit Sharing Plan with a Cash or Deferred Arrangement, the Plan Administrator shall adjust any contributions made pursuant to a Cash or Deferred Arrangement to reflect net income, gain, or loss on each Valuation Date in accordance with the method elected by the Employer in Adoption Agreement Section 4.08.
Allocation and Distribution of Net Income. GAIN, OR LOSS. As of each -------------------------------------------------------- Valuation Date the Plan Administrator shall allocate net income, gain, or loss attributable to Elective Deferrals during the Plan Year:
