A. A corporate credit union shall establish and maintain a corporate reserve in accordance with the reserve requirements of the national credit union administration for federal corporate credit unions.
B. A corporate credit union may make charges to the corporate reserve for losses on risk assets and to meet such other classes of losses as approved by the superintendent. A corporate credit union shall not distribute the corporate reserve except on liquidation of the credit union or in accordance with a plan approved by the superintendent.Section: Previous 6-586 6-587 6-588 6-591 6-592 6-593 6-594 6-595 6-601 6-602 6-603 6-604 6-605 6-606 6-607 Next
Last modified: October 13, 2016