Losses incurred by a credit union may be charged to its regular reserve as permitted by rule of the commissioner.
Cal. Fin. Code § 14701
Reserves
Known as the California Credit Union Law
The act spans §§ 14000–16906 (329 sections).
Amended by Stats. 1981, Ch. 765, Sec. 3.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.