In addition to the regular reserve, special reserves for losses shall be established if required by rule or if the deputy director or the board of directors finds it necessary. Special reserves may include allowances for loan losses or investment losses.

Terms Used In Arizona Laws 6-583

  • Deputy director: means the deputy director of the financial institutions division of the department. See Arizona Laws 6-101
  • Reserves: means allocations of retained income and includes regular and special reserves and any allowances for loan losses and investment losses. See Arizona Laws 6-501
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