26-2184. DIVIDENDS — IDAHO CORPORATE CREDIT UNION. (a) After allocations to the reserve account if required by the director, the board of directors may at the end of any dividend period duly established, declare a dividend from undivided earnings as the bylaws may provide.
(b) Dividends shall be paid on all fully paid shares outstanding at the close of the dividend periods.
(c) And provided further that the Idaho corporate credit union may pay interest on daily deposit balances of its members which are in excess of the capital share base requirement for membership.
(d) No dividend shall be declared or paid at a time when the corporation is insolvent.
History:
[26-2184, added 1977, ch. 213, sec. 2, p. 616.]