N.Y. BNK Law § 459
This is the official text of N.Y. BNK Law § 459, part of New York’s BNK Law — part of the compiled statutory law of New York, published by the state as "BNK Law." Browse the sections below, each linked to its official government source.
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Allowance for loan loss
Official statutory 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
Status: in_force · Read it on the official government site
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