Alaska § 06.45.180 - Reserves.
Full text of Alaska Alaska Statutes § 06.45.180 — Reserves., with citation guidance and answers to common questions.
§ 06.45.180. Reserves.
(a) At the end of each accounting period the gross income of the credit union shall be determined. From this amount, there shall be set aside as a regular reserve against losses on loans and against other losses specified in regulations adopted by the commissioner under this chapter sums in accordance with the following schedule: (1) a credit union in operation for more than four years and having assets of $500,000 or more shall set aside (A) 10 percent of gross income until the regular reserve equals four percent of the total of outstanding loans and risk assets; then
(B) five percent of gross income until the regular reserve equals six percent of the total of outstanding loans and risk assets;
(2) a credit union in operation less than four years or having assets of less than $500,000 shall set aside (A) 10 percent of gross income until the regular reserve equals seven and one-half percent of the total of outstanding loans and risk assets; then
(B) five percent of gross income until the regular reserve equals 10 percent of the total of outstanding loans and risk assets;
(3) when the regular reserve falls below the stated percent of the total of outstanding loans and risk assets, it shall be replenished by regular contributions in amounts as may be needed to maintain the stated reserve goals.
(b) The commissioner may decrease the reserve requirement in (a) of this section when the decrease is necessary or desirable. The commissioner may also require special reserves to protect the interests of members either by general regulation or for an individual credit union.
Frequently Asked Questions About Alaska § 06.45.180
What does Alaska Statutes § 06.45.180 cover?
Section 06.45.180 ("Reserves.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 06.45.180?
A common citation format is "Alaska Statutes § 06.45.180" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 06.45.180 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.