{"data":{"id":"us-mi/mich.-comp.-laws-490.362","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 490.362","heading":"Dividend; declaration; payment; rate; amount.","body":"Sec. 362.\n\nA credit union board may declare and pay a dividend on shares from current or accumulated net earnings, or both, but only after providing for required reserves, accrued and unpaid expenses, and established loan and lease losses. A domestic credit union may pay a dividend on partial or full shares and may pay the dividend at differing levels and at differing intervals based on the type of share accounts owned by a member, the liquidation priority of the share accounts, and the balances of the member's share accounts. A domestic credit union may determine the rate and amount of a dividend before the end of the dividend period involved. A domestic credit union shall not pay a dividend if payment would result in the insolvency of the domestic credit union.","path":["MI Code","Chapter 490","Act Act-215-of-2003"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-490-362","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"a586b8f2f7f00995e666a8f3b6f134b65877d50cee06c14db3d229773cd894bf","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-490.361","next":"us-mi/mich.-comp.-laws-490.363"},"notice":"GroundRules: Original legal text. Not legal advice."}