Arizona Arizona Revised Statutes

§ 6-582 — Use of regular reserve

ARS § 6-582Title 6. Banks and Financial Institutions · Ch. 4. CREDIT UNIONS · Art. 10. Reserves

Statute text

6-582. Use of regular reserve Losses on risk assets, but not operating losses, shall be promptly charged against the regular reserve when those losses occur. The credit union shall not distribute the regular reserve except on liquidation of the credit union or in accordance with a plan approved by the deputy director.