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2009 Kentucky Revised Statutes
Subtitle 5. Savings and Loan Associations
286.5.351 Matured shares.

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286.5-351 Matured shares. When the dues paid in with the dividends credited on any unpledged shares reaches the <br>par value of shares as fixed by the articles of incorporation, all payments of dues shall <br>cease, and if the member so desires he shall be entitled to receive the value as fixed by the <br>articles of incorporation with current dividends at such rates as is fixed by the board of <br>directors. Payment on withdrawal of matured shares shall be otherwise subject to the <br>same restrictions and limitations as payments on other shares. Effective: June 18, 1964 <br>History: Created 1964 Ky. Acts ch. 138, sec. 23, effective June 18, 1964. <br>Formerly codified as KRS 289.351. <br>Legislative Research Commission Note (7/12/2006). In accordance with 2006 Ky. Acts ch. 247, secs. 38 and 39, this statute has been renumbered as a section of the <br>Kentucky Financial Services Code, KRS Chapter 286.

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