7-9-27 - Dividends -- Interest refunds. - Utah Statutes

7-9-27. Dividends -- Interest refunds.
(1) After allocations to required reserves, a credit union may declare and pay a dividendfrom current earnings and undivided earnings at the discretion of the board of directors and asprovided in its bylaws.
(2) Dividends may be paid at different rates on different types or sizes of accounts.
(3) The board of directors may authorize any interest refunds on such classes of loans andunder such conditions as the board authorizes.
(4) A credit union need not pay a dividend on any account less than the par value of oneshare.

Amended by Chapter 8, 1983 General Session