(a) Dividend eligibility shall be prescribed by written board policy.(b) When a credit union is subject to a cease and desist order or is otherwise notified that it is deemed to be in a troubled condition or engaged in an unsafe practice, the credit union must obtain prior written approval of the commissioner before it declares or pays any dividend or interest refund. A request for approval to pay a dividend or interest refund under this section must be in writing and must include the following supporting information:(1) the proposed dividend and/or interest refund rate and the estimated total dollar amount of payment;(2) an analysis of the credit union's ability to make the payment from current earnings without incurring an operating loss for the period; and(3) an explanation of the progress in resolving the areas of concern detailed in the cease and desist order or the examiner's findings schedule of the most recent report of examination.