There is a newer version of the New York Consolidated Laws
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2014 New York Laws
BNK - Banking
Article 11 - (450 - 487-A) CREDIT UNIONS
459 - Allowance for loan loss.

NY Banking L § 459 (2014) What's This?
  459.  Allowance  for loan loss.  An allowance for loan loss account
  shall be established and maintained in an  amount  that  represents  the
  current  estimated  loss  on  loans. The allowance for loan loss account
  requirement shall be computed and adjusted, through  the  provision  for
  loan loss account, prior to the payment of dividends.

The  calculation of this account shall be in accordance with the rules
  established by the National Credit Union Administration.

Disclaimer: These codes may not be the most recent version. New York may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.