§ 14901 Credit Union Dividend Rates

Financial Code·California

AI SummaryVerified

This law says that a credit union's board can decide how much money to give back to members as dividends and when to pay them, but they must follow the rules in another section (14902).

Key Takeaways

•The board of directors decides how much dividend to pay and when.
•They must follow the rules in Section 14902 when paying dividends.
•This law doesn't allow paying dividends in any way not allowed by Section 14902.

Example

You have money saved in a credit union, and they decide to give you some extra money as a dividend.

The credit union's board can choose how much extra money to give you and when, but they have to follow the rules in Section 14902.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 14901 Credit Union Dividend Rates

The rates of dividends and terms of payment may be established in advance by action of the board of directors. However, nothing in this section shall be construed to permit any credit union to pay a dividend except as provided in Section 14902. (Amended by Stats. 1998, Ch. 539, Sec. 34.7. Effective January 1, 1999.)

Last verified: January 11, 2026

Key Terms

dividends board of directors Section 14902

References

Official text at leginfo.legislature.ca.gov
California Legislature. Financial Code. Section 14901.

Key Takeaways

Example

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Related Statutes

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Key Takeaways

Example

Key Terms

Related Statutes

References