Reserve Accounts definition

Reserve Accounts means both of the following:

Examples of Reserve Accounts in a sentence

  • As defined by the Pennsylvania Municipal Retirement Law (Act 15 of 1974), this is the rate fixed and annually reviewed by the board on the basis of earnings on investments to be applied to the Municipal and Members’ Reserve Accounts including the Retired Members’ Reserve account and the Disability Reserve Account.

  • A PNA or SCR may be requested if one has not already been received under §10.404 of this section (relating to Reserve Accounts).

  • Allocation of Excess Interest to Municipal, Members’, and Retired Members’ Reserve Accounts is described in Pennsylvania Municipal Retirement Board Policy Statement Rule Number 97-1 (http://www.pmrs.state.pa.us/doc/board/allocofexcinterest.pdf).


More Definitions of Reserve Accounts

Reserve Accounts. One or more accounts required to be established pursuant to the terms of the Mortgage Loan Agreement for the purposes of holding the Reserve Funds.
Reserve Accounts. With respect to any Mortgage Loan, reserve accounts, if any, established pursuant to the Mortgage or the Loan Agreement and any Escrow Account. Any Reserve Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan and Section 3.07, which Person shall be taxed on all reinvestment income or gain thereon. To the extent not inconsistent with the related Mortgage Loan, each such Reserve Account shall be an Eligible Account.
Reserve Accounts shall have the meaning set forth in Section 9.2.1 hereof.