Special purpose reserves

17-6421. 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.