California · Financial Code
FIN §14703: A credit union shall establish and maintain an allowance-for-loan-losses account in accordance with generally accepted accounting principles.
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A credit union shall establish and maintain an allowance-for-loan-losses account in accordance with generally accepted accounting principles. The commissioner may order the credit union to increase the amount of its allowance-for-loan-losses account if the commissioner finds that the amount of the account is not adequate.
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