North Carolina Statutes
§ 54B-243 — Reserve for losses
A mutual deposit guaranty association shall maintain at all times an amount of funds equal to no less than one percent (1%) of its insured liability to cover losses of its members. These funds may include cash, investments, and reinsurance. (1981, c. 282, s. 3.)
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Nearby Sections
15
§ 54B-1
Title§ 54B-10
Certificate of incorporation§ 54B-100
Membership of a mutual association§ 54B-101
Directors§ 54B-102
Employment policies§ 54B-104
Conflicts of interest§ 54B-105
Voting rights§ 54B-106
Annual meetings; notice required§ 54B-107
Special meetings; notice required§ 54B-108
Quorum§ 54B-109
Indemnification§ 54B-110
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