North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 06 - CREDIT UNION DIVISION
Subchapter C - CREDIT UNIONS
Section .0600 - DIVIDENDS: DEPOSITS AND INTEREST REBATE
Section 06C .0601 - DIVIDENDS
Universal Citation: 04 NC Admin Code 06C .0601
Current through Register Vol. 39, No. 6, September 16, 2024
(a) The board of directors may declare dividends pursuant to G.S. 54-109.44(5) and G.S. 54-109.54.
(b) No dividend shall be declared or paid unless the credit union has satisfied the reserve requirements set forth in G.S. 54-109.86 and any other reserve account that shall be maintained as prescribed by the Administrator.
Authority
G.S.
54-109.12;
54-109.44(5);
54-109.54;
54-109.86;
54-109.87;
Eff.
February 1, 1976;
Readopted Eff. April 4, 1978;
Amended
Eff. October 1, 1983;
Readopted Eff. February 1,
2018.
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