§54‑109.87. Use of regular reserve.
The regular reserve shallbelong to the credit union and shall be used to meet losses except thoseresulting from an excess of expenses over income and shall not be distributedexcept on liquidation of the credit union, or in accordance with a planapproved by the Administrator of Credit Unions. (1975, c. 538, s. 1.)
§54‑109.87. Use of regular reserve.
The regular reserve shallbelong to the credit union and shall be used to meet losses except thoseresulting from an excess of expenses over income and shall not be distributedexcept on liquidation of the credit union, or in accordance with a planapproved by the Administrator of Credit Unions. (1975, c. 538, s. 1.)
§54‑109.87. Use of regular reserve.
The regular reserve shallbelong to the credit union and shall be used to meet losses except thoseresulting from an excess of expenses over income and shall not be distributedexcept on liquidation of the credit union, or in accordance with a planapproved by the Administrator of Credit Unions. (1975, c. 538, s. 1.)
