12 U.S.C. § 1763
Dividends
At such intervals as the board of directors may authorize, and after provision for required reserves, the board of directors may declare a dividend to be paid at different rates on different types of shares, at different rates and maturity dates in the case of share certificates, and at different rates on different types of share draft accounts. Dividends credited may be accrued on various types of shares, share certificates, and share draft accounts as authorized by the board of directors. If the par value of a share exceeds $5, dividends shall be paid on all funds in the regular share account once a full share has been purchased.
Notes of Decisions
Cited in 5
cases, 1976–2020 · leading case: T I Fed. Credit Union v. DelBonis, 72 F.3d 921 (1st Cir. 1995).
T I Fed. Credit Union v. DelBonis, 72 F.3d 921 (1st Cir. 1995). “Federal credit unions are authorized to perform many other governmental functions.”
TI Fed. Credit Union v. Delbonis (In Re Delbonis), 169 B.R. 1 (Bankr. D. Mass. 1994). “12 U.S.C. § 1763 . These functions could be accomplished by a profit making organization.”
TI Fed. Credit Union v. Delbonis (In Re Delbonis), 183 B.R. 1 (D. Mass. 1995). “” Judge Hillman also took into account that a federal credit union is exempt from non-property taxation, pursuant to 12 U.S.C. § 1768 .”
La Caisse Populaire Ste-Marie (St. Mary's Bank) v. United States, 425 F. Supp. 512 (D.N.H. 1976). “12 U.S.C. § 1763 . This is, of course, subject to the credit union’s maintenance of adequate reserves and other requirements imposed by the National Credit Union Administration.”
Arthur L Marquez & Victoria E Marquez (Bankr. D.N.M. 2020). “See 12 U.S.C. § 1763 (authorizing Federal Credit Unions to pay dividends to their members).”
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