As the bylaws may provide and, pursuant to such regulations as may be issued by the Oklahoma State Credit Union Board, the board of directors of a credit union may declare a dividend to be paid at different rates on different types of accounts from any available balances in undivided earnings. If undivided earnings are depleted, dividends can only be paid upon prior written approval of the Commissioner. Added by Laws 1941, p. 15, § 13. Amended by Laws 1968, c. 187, § 3; Laws 1970, c. 321, § 10; Laws 1974, c. 267, § 6; Laws 1988, c. 66, § 3, emerg. eff. March 25, 1988; Laws 1999, c. 28, § 2, emerg. eff. April 5, 1999; Laws 2001, c. 59, § 4, eff. Nov. 1, 2001.NOTE: Laws 1974, c. 66, § 4 repealed by Laws 1974, c. 267, § 12.
Oklahoma Legal Code