The board of directors of a credit union may declare and pay a dividend from net earnings or accumulated net undivided earnings remaining after the statutory reserve has been set aside.
Sources: Codes, 1930, § 4256; 1942, § 5417; Laws, 1924, ch. 177; Laws, 1960, ch. 184, § 2; Laws, 1968, ch. 280; reenacted without change, 1982, ch. 304, § 29; Laws, 1987, ch. 381, § 18; reenacted and amended, 1995, ch. 374, § 28; reenacted without change, Laws, 1997, ch. 368, § 26; reenacted without change, Laws, 2001, ch. 408, § 26, eff from and after July 1, 2001.
The board of directors of a credit union may declare and pay a dividend from net earnings or accumulated net undivided earnings remaining after the statutory reserve has been set aside.
Sources: Codes, 1930, § 4256; 1942, § 5417; Laws, 1924, ch. 177; Laws, 1960, ch. 184, § 2; Laws, 1968, ch. 280; reenacted without change, 1982, ch. 304, § 29; Laws, 1987, ch. 381, § 18; reenacted and amended, 1995, ch. 374, § 28; reenacted without change, Laws, 1997, ch. 368, § 26; reenacted without change, Laws, 2001, ch. 408, § 26, eff from and after July 1, 2001.
The board of directors of a credit union may declare and pay a dividend from net earnings or accumulated net undivided earnings remaining after the statutory reserve has been set aside.
Sources: Codes, 1930, § 4256; 1942, § 5417; Laws, 1924, ch. 177; Laws, 1960, ch. 184, § 2; Laws, 1968, ch. 280; reenacted without change, 1982, ch. 304, § 29; Laws, 1987, ch. 381, § 18; reenacted and amended, 1995, ch. 374, § 28; reenacted without change, Laws, 1997, ch. 368, § 26; reenacted without change, Laws, 2001, ch. 408, § 26, eff from and after July 1, 2001.
