Texas § 123.208 DIVIDENDS AND INTEREST.

Texas Statutes

§ 123.208 — DIVIDENDS AND INTEREST.

Texas § 123.208

Code FIFinance Code

This text of Texas § 123.208 (DIVIDENDS AND INTEREST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 123.208 (2026).

Text

Sec. 123.208. DIVIDENDS AND INTEREST.

(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.

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Sec. 123.208. DIVIDENDS AND INTEREST. (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.