Indiana Administrative Code
Title 750 - DEPARTMENT OF FINANCIAL INSTITUTIONS
Article 3 - CREDIT UNIONS
Rule 3 - Reserve Requirements
Section 3-3 - Reserve for risk assets
Universal Citation: 750 IN Admin Code 3-3
Current through March 20, 2024
Authority: IC 28-1-2-7
Affected: IC 28-7-1-9; IC 28-7-1-24
Sec. 3.
At the end of each accounting period, the gross income shall be determined. Based on this amount, there shall be set aside, as a regular reserve, ten percent (10%) of gross income until the reserve shall equal four percent (4%) of total risk assets, then five percent (5%) of gross income until the reserve shall equal six per cent (6%) of total risk assets.
IAC citation in Indiana Register is incorrectly cited as 750 IAC 3-2-3.
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