Code of Colorado Regulations
700 - Department of Regulatory Agencies
703 - Division of Financial Services
3 CCR 703-3 - RULES AND REGULATIONS OF THE COLORADO DIVISION OF FINANCIAL SERVICES PERTAINING TO CREDIT UNIONS
Section 3 CCR 703-3-18.1 - Dividends
Universal Citation: 3 CO Code Regs 703-3, ยง 18.1
Current through Register Vol. 47, No. 5, March 10, 2024
The amount of a dividend shall not be paid until provisions for reserves as required by law and these regulations have been properly made. No dividend may be paid by a board of directors having knowledge at the time of such payment that an asset charge-off directed by the Commissioner has not been entered and reflected on the books of the credit union. C.R.S. 11-30-118
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