A. For credit unions in operation less than 4 years or having assets of less than $500,000, 10% of gross income until the guaranty fund shall equal equals 7% of the total outstanding loans and risk assets of the credit union and then 5% of the gross income until the guaranty fund shall equal equals 10% of the total outstanding loans and risk assets; or

B. For credit unions in operation more than 4 years and having assets of $500,000 or more, 10% of gross income until the guaranty fund shall equal equals 4% of the total outstanding loans and risk assets of the credit union and then 5% of the gross income until the guaranty fund shall equal equals 6% of the total outstanding loans and risk assets.

The superintendent may waive all or part of the payments required under this subsection for good cause shown by a credit union.

Sec. 21. 9-B MRSA §832, sub-§5 is enacted to read:

5.__Rulemaking.__The superintendent may adopt rules to implement this section or vary the amount of the fund required under this section.__Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.

Sec. 22. 9-B MRSA §833, sub-§1, as amended by PL 1997, c. 398, Pt. L, §8, is repealed.

Sec. 23. 9-B MRSA §833, sub-§1-A is enacted to read:

1-A.__Time for payment of dividends; method.__At such intervals as the board of directors may authorize and after provision for the guaranty fund established pursuant to section 832, the board of directors may declare a dividend to be paid at different rates on different types of shares, at different rates and maturity dates in the case of share certificates and at different rates on different types of share draft accounts.__ Dividends credited may be accrued on various types of shares, share certificates and share draft accounts as authorized by the board of directors.

Sec. 24. 9-B MRSA §833, sub-§2, as enacted by PL 1975, c. 500, §1, is repealed.