1. Before the payment of any dividend, the gross earnings of the credit union must be determined. From the gross earnings a regular reserve against losses must be set aside according to the following schedule: (a) Until the regular reserve equals 7.5 percent of the outstanding loans and risk assets, all credit unions with assets […]
In addition to regular reserve, special reserves to protect the interest of members must be established when: 1. Required by regulations issued by the Commissioner; or 2. Directed by the board of the credit union. (Added to NRS by 1975, 388; A 1983, 1835; 1987, 2019)—(Substituted in revision for NRS 678.680)
For the purpose of establishing the reserves required by NRS 672.670 and 672.680, all assets except the following are considered risk assets: 1. Cash on hand; 2. Deposits or shares in federal or state banks, savings and loan associations, savings banks and credit unions; 3. Assets which are insured by, fully guaranteed as to principal […]
1. The board may, after provision for the required reserves, declare a dividend to be paid from the remaining net earnings at a rate, interval and upon such shares as they determine. Dividends shall be paid on all paid-up shares outstanding at the close of the period for which the dividend is declared. 2. Shares […]
