California Financial Code ARTICLE 7 - Reserves

• Section 14700.
  Every credit union shall create and maintain a regular reserve as specified by the commissioner.(Amended by Stats. 1998, Ch. 539, Sec. 27. Effective January 1,
• Section 14701.
  Losses incurred by a credit union may be charged to its regular reserve as permitted by rule of the commissioner.(Amended by Stats. 1981, Ch. 765,...
• Section 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...
• Section 14703.
  A credit union shall establish and maintain an allowance-for-loan-losses account in accordance with generally accepted accounting principles. The commissioner may order the credit union to...

Last modified: October 22, 2018