Reserve fund

N.D. Cent. Code § 6-06-21
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
6-06-21. Reserve fund Every credit union, including corporate central credit unions, shall maintain an allowance for loan and lease loss account in accordance with generally accepted accounting principles and rules of the national credit union administration. If it is found through an examination that the allowance for loan and lease loss account is not sufficient in disclosing the exposure to loan losses, then the credit union will increase the allowance for loan and lease loss account within thirty days as directed by the commissioner.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t06c06.pdf#nameddest=6-06-21Fetched: 10/16/2026
N.D. Cent. Code § 6-06-21 — Reserve fund | North Dakota Century Code (Aug. 2026 snapshot) | Corpus