A joint resolution approves the State Board of Financial Institutions' regulation on dividends by state-chartered credit unions.
The bill is a joint resolution approving the State Board of Financial Institutions' regulation on dividends by state-chartered credit unions. It amends Regulation 15-50 to clarify the meaning of Section 34-26-710 regarding the declaration and payment of dividends. The regulation, designated as Document Number 5286, was published in the State Register on August 23, 2024. The resolution takes effect upon approval by the Governor.
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