32-1-453. Calculation of profits. Interest or commissions unpaid, although due or accrued, on debts owing to any bank shall not be included in calculation of its profits, unless any bank shall keep its books on a complete accrual basis in which event any such bank shall show on its books accrued interest receivable on notes, bonds, and other investments, unless the same shall be past due as defined by 32-1-452, and shall also carry on its books accrued interest, taxes, and expenses payable.

     History: En. Sec. 46, Ch. 89, L. 1927; amd. Sec. 1, Ch. 64, L. 1931; re-en. Sec. 6014.50, R.C.M. 1935; R.C.M. 1947, 5-525.