New Hampshire § 383-E:8-801 Regular Reserves

New Hampshire Statutes

§ 383-E:8-801 — Regular Reserves

New Hampshire § 383-E:8-801

Title XXXVBANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS

Ch. 383-ECREDIT UNION ACT

SubdivisionARTICLE 8Guaranty Fund

This text of New Hampshire § 383-E:8-801 (Regular Reserves) is published on Counsel Stack Legal Research, covering New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.H. Rev. Stat. Ann. § 383-E:8-801 (2026).

Text

At the end of each quarterly reporting period, a transfer from current earnings shall be made to the regular reserve as set forth in 12 C.F.R. part 702. In the event that current earnings are insufficient to allow the required transfer, undivided earnings shall be utilized to augment the amount transferred from current earnings. The credit union shall notify the commissioner within 30 days of any required transfers made from undivided earnings to the regular reserve. Prior approval of the commissioner is required before any disbursements from the regular reserve.

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At the end of each quarterly reporting period, a transfer from current earnings shall be made to the regular reserve as set forth in 12 C.F.R. part 702. In the event that current earnings are insufficient to allow the required transfer, undivided earnings shall be utilized to augment the amount transferred from current earnings. The credit union shall notify the commissioner within 30 days of any required transfers made from undivided earnings to the regular reserve. Prior approval of the commissioner is required before any disbursements from the regular reserve.