New York § 459 - 459Allowance for loan loss
Full text of New York New York Consolidated Laws § 459 — 459Allowance for loan loss, with citation guidance and answers to common questions.
§ 459. 459Allowance for loan loss
§ 459. Allowance for loan loss. An allowance for loan loss account shall be established and maintained in an amount that represents the current estimated loss on loans. The allowance for loan loss account requirement shall be computed and adjusted, through the provision for loan loss account, prior to the payment of dividends. The calculation of this account shall be in accordance with the rules established by the National Credit Union Administration.
Source: official New York text · Last verified 2026-08-27
Frequently Asked Questions About New York § 459
What does New York Consolidated Laws § 459 cover?
Section 459 ("459Allowance for loan loss") is part of the New York Consolidated Laws, the codified statutory law of New York. 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 New York § 459?
A common citation format is "New York Consolidated Laws § 459" (New York). 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 New York law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New York official source linked on this page or consult a licensed New York attorney.
How does New York § 459 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New York 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 New York.