North Dakota Statutes
§ 6-06-21 — Reserve fund
Every credit union, including corporate central credit unions, shall maintain an allowance for
loan and lease loss account in accordance with generally accepted accounting principles and
rules of the national credit union administration. If it is found through an examination that the
allowance for loan and lease loss account is not sufficient in disclosing the exposure to loan
losses, then the credit union will increase the allowance for loan and lease loss account within
thirty days as directed by the commissioner.
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Nearby Sections
15
§ 6-01-01
Management and control - State department of financial institutions - Local ordinances preempted§ 6-01-01.1
Regulatory fund established - Uses - Continuing appropriation (Effective through June 30, 2029)§ 6-01-02
Definitions§ 6-01-04.2
Cease and desist orders§ 6-01-04.3
Assessment of civil money penalties§ 6-01-04.4
Prompt corrective action§ 6-01-04.5
Investigation of bank holding companies§ 6-01-06
Appointment of receivers§ 6-01-07.1
Records - Confidential