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Code · Arizona · Title 6 — Banks and Financial Institutions

6-582. Use of regular reserve

47 words·~1 min read·/az/title-6/6-582

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.
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