Nevada § 672.875 Regular reserves

Nevada Statutes

§ 672.875 — Regular reserves

Nevada § 672.875

Title 55BANKS AND RELATED ORGANIZATIONS; OTHER FINANCIAL

Ch. 672Credit

CENTRAL CREDIT UNIONS

This text of Nevada § 672.875 (Regular reserves) is published on Counsel Stack Legal Research, covering Nevada primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Nev. Rev. Stat. § 672.875 (2026).

Text

1. Before the payment of any dividend by a central credit union, a regular reserve against loan losses shall be set aside according to the following schedule:

(a)Until the regular reserve equals 5 percent of the outstanding loans and risk assets, 2 percent of the gross earnings shall be withheld.

(b)Whenever the regular reserve falls below 5 percent of the outstanding loans and risk assets it shall be replenished in accordance with the formula set forth in paragraph (a). 2. No other reserves need be maintained by the central credit union.

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1. Before the payment of any dividend by a central credit union, a regular reserve against loan losses shall be set aside according to the following schedule:
(a) Until the regular reserve equals 5 percent of the outstanding loans and risk assets, 2 percent of the gross earnings shall be withheld.
(b) Whenever the regular reserve falls below 5 percent of the outstanding loans and risk assets it shall be replenished in accordance with the formula set forth in paragraph (a).
2. No other reserves need be maintained by the central credit union.