N.C. Gen. Stat. § 54B-243
Reserve for losses
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
A mutual deposit guaranty association shall maintain at all times an amount of funds equal to no less than one percent (1%) of its insured liability to cover losses of its members. These funds may include cash, investments, and reinsurance.
A mutual deposit guaranty association shall maintain at all times an amount of funds equal to no less than one percent (1%) of its insured liability to cover losses of its members. These funds may include cash, investments, and reinsurance.
History
(1981, c. 282, s. 3.)
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.