Texas § FI.123.208 - DIVIDENDS AND INTEREST
Full text of Texas The Texas Constitution § FI.123.208 — DIVIDENDS AND INTEREST, with citation guidance and answers to common questions.
§ FI.123.208. DIVIDENDS AND INTEREST
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. Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.
Frequently Asked Questions About Texas § FI.123.208
What does The Texas Constitution § FI.123.208 cover?
Section FI.123.208 ("DIVIDENDS AND INTEREST") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § FI.123.208?
A common citation format is "The Texas Constitution § FI.123.208" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § FI.123.208 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.