54B-243. Reserve for losses.
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.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54B - Savings and Loan Associations
Article 12 - Mutual Deposit Guaranty Associations.
§ 54B-237 - Organization of a mutual deposit guaranty association.
§ 54B-238 - Examination and certification by Secretary of Commerce.
§ 54B-239 - Recordation of articles of incorporation.
§ 54B-240 - Proposed amendments submitted to Secretary of Commerce.
§ 54B-241 - Examination and certification of amendments.
§ 54B-242 - Recordation of amendments.
§ 54B-243 - Reserve for losses.
§ 54B-244 - Purposes and powers of mutual deposit guaranty associations.
§ 54B-245 - Filing of semiannual financial reports; fees.
§ 54B-246 - Supervision by Secretary of Commerce.
§ 54B-247 - Special examinations.