Utah § 7-9-27 - Dividends -- Interest refunds.
Full text of Utah Utah Code § 7-9-27 — Dividends -- Interest refunds., with citation guidance and answers to common questions.
§ 7-9-27. Dividends -- Interest refunds.
| (1) | After allocations to required reserves, a credit union may declare and pay a dividend from current earnings and undivided earnings at the discretion of the board of directors and as provided in its bylaws. |
| (2) | Dividends may be paid at different rates on different types or sizes of accounts. |
| (3) | The board of directors may authorize any interest refunds on such classes of loans and under such conditions as the board authorizes. |
| (4) | A credit union need not pay a dividend on any account less than the par value of one share. |
Amended by Chapter 8, 1983 General Session
Frequently Asked Questions About Utah § 7-9-27
What does Utah Code § 7-9-27 cover?
Section 7-9-27 ("Dividends -- Interest refunds.") is part of the Utah Code, the codified statutory law of Utah. 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 Utah § 7-9-27?
A common citation format is "Utah Code § 7-9-27" (Utah). 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 Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 7-9-27 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah 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 Utah.