Each association shall establish a general reserve account, for the purpose of absorbing losses, and such other reserves as the director of the division of finance may require. The association shall maintain the general reserve account at such amount, make such transfers to the general reserve account, other required reserves, and undivided profits at such times and in such manner as the director of the division of finance shall determine by regulation.
Mo. Rev. Stat. § 369.134
Reserve account required
Known as the Savings and Loan Law
The act spans §§ 369–369 (92 sections).
Effective: 06 Jul 1994, see footnote; (L. 1971 S.B. 3 § 26, A.L. 1982 S.B. 464, A.L. 1994 H.B. 1165)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.