Calculation

The adequacy of the allowance for loan and lease loss account as required under North Dakota Century Code section 6-06-21 will be based upon generally accepted accounting principles and incorporate the credit union's credit risk rating system as outlined in section 13-03-06-05. The commissioner may require a credit union to put aside additional reserves when funding levels are deemed to be unsafe or unsound as set forth in North Dakota Century Code section 6-06-08.4. History: Effective January 1, 1981; amended effective June 1, 2002; January 1, 2007; January 1, 2013; January 1, 2019. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-08.4, 6-06-21