ARTICLE 7. Reserves [14700. - 14703.]

Article 7 added by Stats. 1979, Ch. 112.

§§ 14700–14703 · 4 sections

• § 14700 Every credit union shall create and maintain a regular reserve as specified by the commissioner.
• § 14701 Losses incurred by a credit union may be charged to its regular reserve as permitted by rule of the commissioner.
• § 14702 In addition to the regular reserve, special reserves shall be established when required by regulation or when found necessary by the board of directors of the…
• § 14703 A credit union shall establish and maintain an allowance-for-loan-losses account in accordance with generally accepted accounting principles. The commissioner…