Legal reserve definition

Legal reserve means the statutory reserve account of the credit union set aside from gross earnings as a regular reserve against losses on loans and other contingencies, in accordance with Iowa Code chapter 533.
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Legal reserve means the sum which every domestic
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Legal reserve means the sum which every domestic bank and foreign bank shall at all times have available for the payment of their deposit liabilities pursuant to the provisions of this subtitle.
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Examples of Legal reserve in a sentence

  • Legal reserve, in so far as national law requires such a reserve.

  • Legal reserve is the net present value of all outstanding policies and contracts involving life contingencies.

  • Legal reserve Legal reserve is a compulsory reserve under Lithuanian legislation.

  • Legal reserve is deductible within the limit of 5% applied to the accounting profit before establishing the corporate income tax.

  • Legal reserve is compulsory under the Lithuanian regulatory legislation.

  • Legal reserve A legal reserve is a compulsory reserve under Lithuanian legislation.

  • Legal reserve and limitation on distribution of retained earnings WorldReginfo - f1bfb3c5-2e41-42fe-a327-cf182184f9f8Based on the Company’s articles of incorporation, 10% of annual net income after offsetting prior years’ deficits, if any, is to be set aside as legal reserve; less than 2% of the unappropriated earnings, after deducting the legal reserve, is distributed as remuneration to the directors and supervisors, and more than 2% as bonus to employees.

  • Reserves comprise: Appropriations of profit and/or retained earnings Legal reserve Section 116 of the Public Companies Act B.E. 2535 requires that a public company shall allocate not less than 5% of its annual net profit, less any accumulated losses brought forward, to a reserve account (“legal reserve”), until this account reaches an amount not less than 10% of the registered authorised capital.

  • Legal reserve of association bank(1) In order to guarantee the obligations of an association bank, a legal reserve shall be formed in the amount of at least one-tenth of the share capital unless the articles of association prescribe a higher level.

  • Legal reserve Retained earnings are appropriated to legal reserve until the amount of legal reserve equals the Bank’s paid-in-capital.


More Definitions of Legal reserve

Legal reserve means the sum which every
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Legal reserve means a reserve of fund balance as defined by the Governmental Accounting Standards Board (GASB) for encumbrances, or other funds not available for appropriation due to State or other legally imposed purpose, or as approved pursuant to N.J.A.C. 6A:23-2.2(j).
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Legal reserve means, after the Company has covered its losses and all
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Legal reserve means a reserve that is a realised financial reserve which is—
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Legal reserve means the sum which
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Related to Legal reserve

  • Legal Reservations means the application of relevant Debtor Relief Laws, general principles of equity and/or principles of good faith and fair dealing.

  • Capital Reserve means, as of any date of determination, an amount equal to the product of (i) $0.25 multiplied by (ii) the square footage of all Real Properties on such date.

  • Federal Reserve means the Board of Governors of the Federal Reserve System.

  • Federal Reserve Board means the Board of Governors of the Federal Reserve System.

  • Capital Reserves means, for any period and with respect to a Property, an amount equal to (a) $0.05 per square foot times (b) a fraction, the numerator of which is the number of days in such period and the denominator of which is 365. If the term Capital Reserves is used without reference to any specific Property, then the amount shall be determined on an aggregate basis with respect to all Properties of the Trust and its Subsidiaries and a proportionate share of all Properties of all Unconsolidated Affiliates.

  • NY Federal Reserve means the Federal Reserve Bank of New York.

  • Mineral Reserve means the economically mineable part of a measured or indicated mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A mineral reserve includes diluting materials and allowances for losses that may occur when the material is mined.

  • Total Reserves means, at any time of determination, an amount equal to the product of (i) the sum of: (a) the Yield Reserve Percentage, plus (b) the greater of (I) the sum of the Concentration Reserve Percentage, plus the Minimum Dilution Reserve Percentage and (II) the sum of the Loss Reserve Percentage, plus the Dilution Reserve Percentage, times (ii) the Net Receivables Pool Balance at such time.

  • New York Federal Reserve s Website" means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website;

  • Board of Governors means the Board of Governors of the United States Federal Reserve System, or any successor thereto.

  • FDIC The Federal Deposit Insurance Corporation, or any successor thereto.

  • OTS The Office of Thrift Supervision.

  • Working Capital Reserve shall have the meaning set forth in the Partnership Agreement.

  • OCC means the Office of the Comptroller of the Currency.

  • NY Federal Reserve’s Website means the website of the NY Federal Reserve, currently at xxxx://xxx.xxxxxxxxxx.xxx, or any successor website of the NY Federal Reserve or the website of any successor administrator of the Secured Overnight Financing Rate.

  • Federal Reserve Bank The Federal Reserve Bank of New York and/or such other Federal Reserve Banks as may maintain Pass-Through Certificates on the Fed System, or any successor selected or approved by Xxxxxxx Mac.

  • Regulation Y means Regulation Y of the Board of Governors of the Federal Reserve System, as the same may be in effect from time to time, and any successor regulations.

  • Federal Reserve Act means the Federal Reserve Act, as amended.

  • BHCA means the Bank Holding Company Act of 1956, as amended.

  • FRB means the Board of Governors of the Federal Reserve System of the United States.

  • Proven Mineral Reserve means that economically mineable part of a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;

  • Federal Reserve Bank Book-Entry System means a depository and securities transfer system operated by the Federal Reserve Bank of the United States on which are eligible to be held all United States Government direct obligation bills, notes and bonds.

  • Surplus Fund means the fund by that name established pursuant to the Second Resolution.

  • New York Federal Reserve’s Website means the website of the New York Federal Reserve, currently at http://www.newyorkfed.org, or any successor source.

  • Reserve shall have the meaning given such term in Section 5.1.2(a).

  • Probable Mineral Reserve means the economically mineable part of an indicated and, in some circumstances, a measured mineral resource demonstrated by at least a preliminary feasibility study. This study must include adequate information on mining, processing, metallurgical, economic and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified;