§ 19-5-20. Regular reserve.
Each credit union shall establish and maintain a regular reserve, as provided by the Federal Credit Union Act, 12 U.S.C. § 1751 et seq. The director, or the director’s designee, shall approve or deny any charges to the reserve.
History of Section.P.L. 1995, ch. 82, § 43.
Structure Rhode Island General Laws
Title 19 - Financial Institutions
Section 19-5-1. - “Credit union” defined.
Section 19-5-2. - Incorporation.
Section 19-5-3. - Membership of credit unions.
Section 19-5-4. - Contents of bylaws.
Section 19-5-5. - Shares or deposits held jointly.
Section 19-5-6. - Demand deposits.
Section 19-5-7. - Voting rights.
Section 19-5-8. - Election and terms of directors.
Section 19-5-9. - Appointments and terms of supervisory committee members.
Section 19-5-10. - Credit committee.
Section 19-5-11. - Duplication of office prohibited — Oaths of office — Record of qualification.
Section 19-5-12. - Powers and duties of directors.
Section 19-5-13. - Loan applications.
Section 19-5-14. - Powers and duties of supervisory committee.
Section 19-5-15. - Investment of funds — Powers.
Section 19-5-15.1. - Purchase, sale and pledge of eligible obligations and assets.
Section 19-5-16. - Maximum aggregate liability of one person or company.
Section 19-5-17. - Compensation or loans to officers.
Section 19-5-18. - Expulsion of members.
Section 19-5-20. - Regular reserve.
Section 19-5-21. - Destruction of records.
Section 19-5-22. - Tax on deposits.
Section 19-5-23. - Conversion.
Section 19-5-25. - Exercise of same powers as federal credit unions.
Section 19-5-26. - Liquidity reserves.
Section 19-5-27. - Interstate credit unions.