Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 17 - Association Reserves and Liquidity
Section 20 CSR 1140-17.010 - Reserves

Universal Citation: 20 MO Code of State Regs 1140-17.010
Current through Register Vol. 49, No. 18, September 16, 2024

PURPOSE: This regulation requires savings and loan associations to establish a general reserve account in compliance with applicable federal regulations.

Each association shall maintain a general reserve account in an amount at least equal to that required of insured associations by applicable federal regulations. This general reserve shall be used solely for the purpose of absorbing losses. An association may establish and maintain such additional general or specific reserves as determined by the board of directors.

Copies of all referenced federal regulations are available to any interested party at the Division of Finance, Room 630, 301 West High Street, Jefferson City, Missouri or the Office of the Secretary of State at a cost established by state law.

*Original authority: 369.299, RSMo 1971, amended 1994.

Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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