Tex. Fin. Code § 123.208 · Subchapter C. FINANCIAL POWERS
DIVIDENDS AND INTEREST.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A credit union may:
(1) declare and pay a dividend on a share;
(2) contract for and pay interest on a deposit; or
(3) refund interest to a borrower.
(b) A dividend or interest may be paid at a rate and on the conditions that the board authorizes.
(c) The commissioner may restrict the payment of a dividend:
(1) if the commissioner issues a cease and desist order under Section 122.257; or
(2) as necessary to protect the member's interests and preserve the solvency of the credit union as authorized by commission rule.
Notes and commentary — not statutory text
History
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.123.htm
- Text hash
- sha256 dda628554cf1b833a20235cdb828f02c00b94d4e9b2a23b18ce4f44da7ed2d9a
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.