Missouri § 370.325 - Reserves, amounts required, waived when, procedure.
Full text of Missouri Revised Statutes of Missouri § 370.325 — Reserves, amounts required, waived when, procedure., with citation guidance and answers to common questions.
§ 370.325. Reserves, amounts required, waived when, procedure.
1. Notwithstanding any other provisions in this chapter, each credit union organized under the laws of this state having membership shares shall maintain a reserve for losses on loans to members in an amount equal to at least one hundred percent of the average losses on loans over the five most recent years. The director may, upon application by a credit union, waive this reserve requirement for any credit union.
2. Each credit union organized under the laws of this state shall maintain a reserve equal to at least five percent of the membership shares, to meet contingencies or losses other than losses on loans. The director may, upon application by a credit union, waive this reserve requirement for any credit union.
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(L. 1984 H.B. 962)
---- end of effective 28 Aug 1984 ----
Frequently Asked Questions About Missouri § 370.325
What does Revised Statutes of Missouri § 370.325 cover?
Section 370.325 ("Reserves, amounts required, waived when, procedure.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. 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 Missouri § 370.325?
A common citation format is "Revised Statutes of Missouri § 370.325" (Missouri). 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 Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 370.325 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri 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 Missouri.