6-595

6-595. Reserves

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.