There is a newer version of the North Carolina General Statutes
2005 North Carolina Code - General Statutes § 54-109.87. Use of regular reserve.
§ 54‑109.87. Use of regular reserve.
The regular reserve shall belong to the credit union and shall be used to meet losses except those resulting from an excess of expenses over income and shall not be distributed except on liquidation of the credit union, or in accordance with a plan approved by the Administrator of Credit Unions. (1975, c. 538, s. 1.)
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