# Ohio Admin. Code 1301:9-2-09: Rule 1301:9-2-09. Dividends

> Ohio · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_09

## Section

- **Citation:** Ohio Admin. Code 1301:9-2-09
- **Heading:** Rule 1301:9-2-09. Dividends
- **Jurisdiction:** Ohio
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Ohio Administrative Code / Agency 1301:9 / Chapter 1301:9-2 / Rule 1301:9-2-09

## Text

119.03 (A) The board of directors may approve payment of dividends on shares from current earnings only. No dividend may be declared or paid unless the credit union is in full compliance with section 1733.31 of the Revised Code. However, the superintendent may permit the payment of dividends from undivided earnings upon written request submitted to the superintendent, subject to a plan of corrective action. (B) Requests for approval of payment of dividends from undivided earnings by the superintendent shall be made at least ten business days before the end of the quarter, unless the credit union is under a supervisory agreement. When the credit union is under a supervisory agreement, the terms of the supervisory agreement shall take precedence. All requests for approval for payment of dividends shall be made on a form prescribed by the superintendent. The superintendent will approve or deny the request within five business days of receiving the request. If the superintendent does not approve or deny the request within five business days the request is deemed approved. Last updated July 8, 2024 at 8:54 AM Supplemental Information Authorized By: 1733.41 Amplifies: 1733.31 7/8/2029

## Nearby sections

- [Ohio Admin. Code 1301:9-2-01 Rule 1301:9-2-01. Service facilities](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_01.md)
- [Ohio Admin. Code 1301:9-2-02 Rule 1301:9-2-02. Voting by the membership](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_02.md)
- [Ohio Admin. Code 1301:9-2-03 Rule 1301:9-2-03. Required bond](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_03.md)
- [Ohio Admin. Code 1301:9-2-04 Rule 1301:9-2-04. Charge-off of uncollectible loans and other losses and reserves](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_04.md)
- [Ohio Admin. Code 1301:9-2-05 Rule 1301:9-2-05. Financial statements](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_05.md)
- [Ohio Admin. Code 1301:9-2-06 Rule 1301:9-2-06. Preservation/retention of records](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_06.md)
- [Ohio Admin. Code 1301:9-2-07 Rule 1301:9-2-07. Investments](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_07.md)
- [Ohio Admin. Code 1301:9-2-07.1 Rule 1301:9-2-07.1. Derivatives authority](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_07_1.md)
- [Ohio Admin. Code 1301:9-2-08 Rule 1301:9-2-08. Liquidity](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_08.md)
- [Ohio Admin. Code 1301:9-2-09 Rule 1301:9-2-09. Dividends](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_09.md)
- [Ohio Admin. Code 1301:9-2-10 Rule 1301:9-2-10. Impairment](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_10.md)
- [Ohio Admin. Code 1301:9-2-11 Rule 1301:9-2-11. Independent audit](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_11.md)
- [Ohio Admin. Code 1301:9-2-12 Rule 1301:9-2-12. Reimbursement to credit unions for assembling or providing financial records](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_12.md)
- [Ohio Admin. Code 1301:9-2-13 Rule 1301:9-2-13. Compensation](https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_13.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_OH_ADC_1301_9_2_09. Check the current official text before relying on it. Not legal advice.