New Mexico Statutes 58-10-28. Charging off or setting up reserves against bad assets
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After a determination of value, the supervisor may order that assets in the aggregate, to the extent that the assets exceed appraised value, be charged off, or that a special reserve or reserves equal to the depreciation in value be set up by transfers from surplus, undivided profits or reserves.
Terms Used In New Mexico Statutes 58-10-28
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.