Iowa Code 533.302 – Capital
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533.302 Capital.
1. The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. A credit union may charge an entrance fee as may be provided by the bylaws.
2. A credit union may establish an equity share having a par value not to exceed one hundred dollars which shall be a part of the capital of the credit union and shall not be withdrawn or transferred except upon expulsion or withdrawal from membership in the credit union, as provided in § 533.210.
3. At the option of the credit union, the equity share may earn a dividend and may be insured.
2007 Acts, ch 174, §33; 2012 Acts, ch 1020, §12
Referred to in §533.307
1. The capital of a credit union shall consist of the payments that have been made to it by the several members thereof on shares. A credit union may charge an entrance fee as may be provided by the bylaws.
2. A credit union may establish an equity share having a par value not to exceed one hundred dollars which shall be a part of the capital of the credit union and shall not be withdrawn or transferred except upon expulsion or withdrawal from membership in the credit union, as provided in § 533.210.
3. At the option of the credit union, the equity share may earn a dividend and may be insured.
2007 Acts, ch 174, §33; 2012 Acts, ch 1020, §12
Referred to in §533.307