N.C. Gen. Stat. § 54B-216
General reserve
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
(1) Every State association shall establish and maintain general valuation allowances and specific loss reserves in compliance with the requirements of the appropriate federal regulatory authorities.
(1) Every State association shall establish and maintain general valuation allowances and specific loss reserves in compliance with the requirements of the appropriate federal regulatory authorities.
(2) The failure of a State association to maintain the required level of general valuation allowances or specific loss reserves may be grounds for supervisory action by the Commissioner of Banks.
(2) The failure of a State association to maintain the required level of general valuation allowances or specific loss reserves may be grounds for supervisory action by the Commissioner of Banks.
(3) The Commissioner of Banks may adopt rules to implement this section.
(3) The Commissioner of Banks may adopt rules to implement this section.
(4) to (f) Repealed by Session Laws 1989, c. 76, s. 11.
(4) to (f) Repealed by Session Laws 1989, c. 76, s. 11.
History
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.