{"data":{"id":"us-tx/tex.-finance-code-123.208","jurisdiction":"us-tx","citation":"Tex. Finance Code § 123.208","heading":"DIVIDENDS AND INTEREST.","body":"(a) A credit union may:\n(1) declare and pay a dividend on a share;\n(2) contract for and pay interest on a deposit; or\n(3) refund interest to a borrower.\n(b) A dividend or interest may be paid at a rate and on the conditions that the board authorizes.\n(c) The commissioner may restrict the payment of a dividend:\n(1) if the commissioner issues a cease and desist order under Section 122.257; or\n(2) as necessary to protect the member's interests and preserve the solvency of the credit union as authorized by commission rule.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE D. CREDIT UNIONS","CHAPTER 123. GENERAL POWERS","SUBCHAPTER C. FINANCIAL POWERS"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.123.htm#123.208","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"97a1c52f45620ed68ebb694e995298523d9962e33e1e4463232fbf1ddd546303","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-123.207","next":"us-tx/tex.-finance-code-123.209"},"notice":"GroundRules: Original legal text. Not legal advice."}