12 CFR 702.211
§ 702.211 Payment of dividends.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 702.211, § 702.211 Payment of dividends, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/48398
- Permanent ID
ys:prov:48398@1- SHA-256
10d4d19315d67a98576d66c4b0fc82a80d0b62693e5ff0b6dcd85044bbee23b9
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) Restriction on dividends. Dividends shall be available only from net worth, net of any special reserves established under § 702.208, if any.
(b) Payment of dividends and interest refunds. The board of directors may not pay a dividend or interest refund that will cause the credit union's capital classification to fall below adequately capitalized under subpart A of this part unless the appropriate regional director and, if state-chartered, the appropriate state official, have given prior written approval (in an RBP or otherwise). The request for written approval must include the plan for eliminating any negative retained earnings balance.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.