ADMINISTRATION OF THE GOVERNMENT (Chapters 1 through 182)
Reserve for losses on investments
Section 70. A credit union shall maintain a reserve for loses on investments equal to five percent of the difference between the book value and the market value of all investments mentioned in section sixty-seven excluding those investments which are included in the liquidity reserve; provided, however, that a credit union shall maintain a reserve for the stock investments authorized by paragraph (o) and the investment funds authorized by paragraph (p) of section sixty-seven.
Should the reserves maintained in this section and section sixty-nine exceed the amount necessary to be kept or maintained in those accounts, the credit union may transfer such excess into an undivided earnings account.