New York § 459 Allowance for loan loss

New York Statutes

§ 459 — Allowance for loan loss

New York § 459

Law BNKBanking

Art. 11Credit Unions

This text of New York § 459 (Allowance for loan loss) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. Banking § 459 (2026).

Text

  § 459. Allowance for loan loss.  An allowance for loan loss account\nshall be established and maintained in an amount that represents the\ncurrent estimated loss on loans. The allowance for loan loss account\nrequirement shall be computed and adjusted, through the provision for\nloan loss account, prior to the payment of dividends.\n  The calculation of this account shall be in accordance with the rules\nestablished by the National Credit Union Administration.\n

Free access — add to your briefcase to read the full text and ask questions with AI

§ 459. Allowance for loan loss. An allowance for loan loss account\nshall be established and maintained in an amount that represents the\ncurrent estimated loss on loans. The allowance for loan loss account\nrequirement shall be computed and adjusted, through the provision for\nloan loss account, prior to the payment of dividends.\n The calculation of this account shall be in accordance with the rules\nestablished by the National Credit Union Administration.\n