North Carolina Statutes
§ 54-109.87 — Use of regular reserve
North Carolina § 54-109.87
JurisdictionNorth Carolina
Ch. 54Cooperative Organizations
Art. 14JReserve Allocations
Subch. IIICREDIT UNIONS
This text of North Carolina § 54-109.87 (Use of regular reserve) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.C. Gen. Stat. § 54-109.87 (2026).
Text
The regular reserve shall belong to the credit union and shall be used to meet losses except those resulting from an excess of expenses over income and shall not be distributed except on liquidation of the credit union, or in accordance with a plan approved by the Administrator of Credit Unions.
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Legislative History
(1975, c. 538, s. 1.)
Nearby Sections
15
§ 54-109.1
Definition and purposes§ 54-109.10
Creation and supervision of Division§ 54-109.105
What information deemed confidential; disclosure; certain information deemed public; exchange of information§ 54-109.106
Foreign Credit Unions§ 54-109.11
Duties of Administrator§ 54-109.12
Corporations organized hereunder subject to Administrator of Credit Unions; rules and regulations§ 54-109.13
Revocation of certificate; liquidation§ 54-109.14
Fees§ 54-109.15
Reports§ 54-109.16
Examinations required; payment of cost§ 54-109.17
Records§ 54-109.19
Removal of officers§ 54-109.2
Organization procedure§ 54-109.20
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Bluebook (online)
North Carolina § 54-109.87, Counsel Stack Legal Research, https://law.counselstack.com/statute/nc/54/54-109.87.