4 N.C. Admin. Code 6C.0601

Current through Register Vol. 39, No. 6, September 16, 2024

Section 06C .0601 - DIVIDENDS

(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.

04 N.C. Admin. Code 06C .0601

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.

Authority G.S. 54-109.12; 54-109.44(5);
Eff. February 1, 1976;
Readopted Eff. April 4, 1978;
Amended Eff. October 1, 1983.

Readopted by North Carolina Register Volume 32, Issue 17, March 1, 2018 effective 2/1/2018.