GroundRules
N.C. Gen. Stat. § 54-109.87: Use of regular reserve.
Where this section sits in the code
- Chapter 54. Cooperative Organizations.
- SUBCHAPTER III. CREDIT UNIONS.
- Article 14J. Reserve Allocations.
The regular reserve shall belong to the credit union and shall be used to meet losses except those resulting from an excess of expenses over income and shall not be distributed except on liquidation of the credit union, or in accordance with a plan approved by the Administrator of Credit Unions. (1975, c. 538, s. 1.)
Collected 2026-08-27T18:05:32Z. Source file · JSON