17-5410. Bonus and other reserve accounts.
17-5410
17-5410. Bonus and other reserve accounts.
With the approval of the commissioner, the board of directors may make
additional transfers to other reserve accounts. If an association adopts a
bonus plan or plans, it shall maintain a bonus reserve in such manner and
in such amount as the commissioner shall require.
History: L. 1943, ch. 133, § 68; July 1.