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2021 Utah Code
Title 7 - Financial Institutions Act
Chapter 9 - Utah Credit Union Act
Section 27 - Dividends -- Interest refunds.
Universal Citation:
UT Code § 7-9-27 (2021)
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7-9-27. Dividends -- Interest refunds.
Amended by Chapter 8, 1983 General Session
- (1) After allocations to required reserves, a credit union may declare and pay a dividend from current earnings and undivided earnings at the discretion of the board of directors and as provided 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 and under such conditions as the board authorizes.
- (4) A credit union need not pay a dividend on any account less than the par value of one share.
Amended by Chapter 8, 1983 General Session
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