N.Y. Banking Law § 458-a: Maintenance of reserves

§ 458-a. Maintenance of reserves. A credit union shall contribute to

and maintain such net worth reserve categories as the superintendent

shall, by regulation, prescribe. Such regulations shall provide for a

system of maintaining net worth reserves that is comparable to that of

Title 12 U.S.C. section 1790(d) and any regulations promulgated by the

National Credit Union Administration thereunder, except as otherwise

deemed necessary by the superintendent in accordance with the

declaration of policy set forth in section ten of this chapter.