Section 458-A. Maintenance of reserves  


Latest version.
  • 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.