Nevada Revised Statutes 672.875 v2 – Regular reserves
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1. Before the payment of any dividend by a central credit union, a regular reserve against loan losses shall be set aside according to the following schedule:
Terms Used In Nevada Revised Statutes 672.875 v2
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(a) Until the regular reserve equals 5 percent of the outstanding loans and risk assets, 2 percent of the gross earnings shall be withheld.
(b) Whenever the regular reserve falls below 5 percent of the outstanding loans and risk assets it shall be replenished in accordance with the formula set forth in paragraph (a).
2. No other reserves need be maintained by the central credit union.