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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 180. Oklahoma State Credit Union Board |
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Chapter 10. Supervision, Regulation and Administration |
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Subchapter 5. Guidelines and Restrictions |
SECTION 180:10-5-2. Dividends and interest paid
Latest version.
- A state-chartered credit union is hereby expressly authorized and permitted to pay dividends on accounts and interest on deposits at rates determined by the credit union's board of directors . The credit union's board of directors shall consider the following when establishing such rates:(1) the period to which such rate shall be applicable,(2) the type(s) of account to which such rate shall be applicable,(3) whether the available earnings of the credit union are sufficient to pay dividends/interest at the specified rate, provided, however the board of directors may determine that adequate earnings are available through protection thereof, and(4) whether the payment of dividends/interest at such rate for such period will not impair the credit union's ability to meet such other financial commitments as it may have or to comply with such liquidity or other legal requirements to which it may be subject.