SEC. 81-13-53. Dividends.

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, Sec. 4256; 1942, Sec. 5417; Laws, 1924, ch. 177; 1960, ch. 184, Sec. 2; 1968, ch. 280; reenacted without change, 1982, ch. 304, Sec. 29; 1987, ch. 381, Sec. 18; reenacted and amended, 1995, ch. 374, Sec. 28, eff from and after July 1, 1995

1997 Amendment

Reenacted.

SOURCE: 1997 Laws, Chapter 368, Sec. 26, HB561, Effective July 1, 1997.