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


More Definitions of Legal reserve

Legal reserve means the sum which
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Legal reserve means a reserve that is a realised financial reserve which is—
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Legal reserve means, after the Company has covered its losses and all
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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 the portion of the net position of a governmental fund that represents resources subject to externally enforceable constraints, including restrictions that are either: externally imposed by creditors, grantors, contributors, or laws or regulations of other governments; or imposed by law through constitutional provisions or enabling legislation.
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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.

  • 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, the sum of: (a) the Yield Reserve, plus (b) the greater of (i) the Concentration Reserve plus the Minimum Dilution Reserve and (ii) the Loss Reserve plus the Dilution Reserve.

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

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

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

  • 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.

  • 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.

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

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

  • In-situ conservation means the conservation of ecosystems and natural habitats and the maintenance and recovery of viable populations of species in their natural surroundings and, in the case of domesticated or cultivated species, in the surroundings where they have developed their distinctive properties.