CODE OF VIRGINIA

USE OF RESERVES (§ 6.2-1378)

Losses may be charged to the reserve fund. Any sums recovered on items
previously charged to it shall be credited to the reserve fund. No dividends
shall be paid out of the reserve fund unless the fund, after such payment,
exceeds the total amount required to be set aside in the regular reserve and
special reserves of the credit union.

HISTORY: Code 1950, § 6-227; 1964, c. 75; 1966, c. 584, § 6.1-218; 1968, c.
560; 1984, c. 410; 1986, c. 146; 1990, c. 373, § 6.1-225.59; 2010, c. 794.