32-3-702. Maintenance of regular reserve account. The department of administration may require a credit union to establish and maintain, at a certain level, a regular reserve account as a contingency to address potential losses. The department may rely on standards adopted by the national credit union administration (NCUA) in making any determination to require a credit union to establish a regular reserve account.

     History: En. 14-660 by Sec. 60, Ch. 38, L. 1975; R.C.M. 1947, 14-660; amd. Sec. 2, Ch. 64, L. 2003; amd. Sec. 37, Ch. 237, L. 2003.