Laws of New York (Last Updated: November 21, 2014)

Section 459. Allowance for loan loss

Latest version.

An allowance for loan loss account
  shall be established and maintained in an  amount  that  represents  the
  current  estimated  loss  on  loans. The allowance for loan loss account
  requirement shall be computed and adjusted, through  the  provision  for
  loan loss account, prior to the payment of dividends.
    The  calculation of this account shall be in accordance with the rules
  established by the National Credit Union Administration.

                    
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