Title 7, Chapter 1, Section 752
(a) Each year the corporation shall set apart as earned surplus not
less than 10 percent of its net earnings for all the preceding
fiscal year until such surplus shall be equal in value to one-half
of the amount paid in on the capital then outstanding. Whenever the
amount of surplus established in this Code section shall become
impaired, it shall be built up again to the required amount in the
manner provided for its original accumulation. Net earnings and
surplus shall be determined by the board of directors after
providing for such reserves as said directors deem desirable, and
the determination of the directors made in good faith shall be
conclusive on all persons.
(b) Corporations organized under this article shall adopt the
calendar year as their fiscal year.