N.D. Admin. Code 13-03-06-02

Current through Supplement No. 395, January, 2025

Section 13-03-06-02 - Maintaining an allowance for loan and lease loss account

All credit unions operating under a charter issued by the state of North Dakota shall be required to maintain an allowance for loan and lease loss account in accordance with generally accepted accounting principles and rules of the national credit union administration.

N.D. Admin Code 13-03-06-02

Amended effective June 1, 1979; January 1, 1981; January 1, 2007; January 1, 2013.

Amended by Administrative Rules Supplement 371, January 2019, effective 1/1/2019.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-08.4, 6-06-21