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This entry was published on 2014-09-22
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SECTION 459
Allowance for loan loss
Banking (BNK) CHAPTER 2, ARTICLE 11
§ 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.