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United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 9-B, § 833: Dividends and interest, 1975

The board of directors may declare dividends at authorized intervals if the credit union maintains adequate net worth, and shares in a qualifying credit union are exempt from taxes and most charges.

Source excerpt

dividendstax exemption
Jurisdiction
United States — Maine
Structure
1 provisions
Official identity
Year 1975
Dates
Enacted 1975 · Source version 1 Oct 2025
More statute details
Dates
Enacted 1975 · Source version 1 Oct 2025
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“The board of directors may declare dividends at authorized intervals if the credit union maintains adequate net worth, and shares in a qualifying credit union are exempt from taxes and most charges.”

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    Enacted 1975 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Dividends and interest

The board of directors may declare dividends at authorized intervals if the credit union maintains adequate net worth, and shares in a qualifying credit union are exempt from taxes and most charges.

Section 833

04

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Source record from legislature.maine.gov · Enacted 1975 · Source version 1 Oct 2025

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Provision
§ 833Dividends and interestProvision

Source excerpt

The board of directors may declare dividends at authorized intervals if the credit union maintains adequate net worth, and shares in a qualifying credit union are exempt from taxes and most charges.

1. Time for payment; method. [PL 2003, c. 322, §22 (RP).] 1-A. Time for payment of dividends; method. At such intervals as the board of directors may authorize and after the credit union establishes and maintains adequate levels of net worth pursuant to section 831, the board of directors may declare a dividend to be paid at different rates on different types of shares, at different rates and maturity dates in the case of share certificates and at different rates on different types of share draft accounts. Dividends credited may be accrued on various types of shares, share certificates and share draft accounts as authorized by the board of directors. [PL 2017, c. 143, §8 (AMD).] 2. Rates on different accounts. [PL 2003, c. 322, §24 (RP).] 3. Maximum dividend rate. [PL 1981, c. 501, §35 (RP).] 3-A. Dividend rate. [PL 2003, c. 322, §25 (RP).] 4. Tax exemption. Shares in a credit union organized pursuant to this Part shall be exempt from taxes; and no taxes or charges, except as otherwise provided, shall be levied against them. [PL 1975, c. 500, §1 (NEW).]
Section 833Verify source

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  • 1 Oct 2025 · currentEnglish

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