North Carolina General Statutes 54B-243. Reserve for losses
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A mutual deposit guaranty association shall maintain at all times an amount of funds equal to no less than one percent (1%) of its insured liability to cover losses of its members. These funds may include cash, investments, and reinsurance. (1981, c. 282, s. 3.)
Terms Used In North Carolina General Statutes 54B-243
- Association: includes a State association or a federal association unless limited by use of the words "State" or "federal. See North Carolina General Statutes 54B-4
- Members: means withdrawable account holders and borrowers in a State mutual association. See North Carolina General Statutes 54B-4