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
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Examples of Legal reserve in a sentence

  • Legal reserve is the net present value of all outstanding policies and contracts involving life contingencies.

  • Legal reserve is deductible within the limit of 5% applied to the accounting profit before establishing the corporate income tax.

  • Legal reserve A legal reserve is a compulsory reserve under Lithuanian legislation.

  • Legal reserve is compulsory under the Lithuanian regulatory legislation.

  • 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 Legal reserve is a compulsory reserve under Lithuanian legislation.

  • Legal reserve In accordance with the Romanian law and the company's Articles of Incorporation, the Transgaz must transfer five percent of the profit from the statutory financial statements in a statutory reserve of up to 20% of the statutory share capital.

  • The caption “Reserves” in the amount of 318,582 thousand Euros includes:  Legal reserve: The Commercial Company Code in place requires that at least 5% of the net profit must be transferred to this reserve until it has reached 20% of the share capital.

  • Legal reserve In accordance with the Romanian legislation and the Company's Articles of Incorporation, it must transfer five percent of the profit from the statutory financial statements in a statutory reserve of up to 20% of the statutory share capital.

  • Legal reserve- Under the Consolidated Text of the Corporate Enterprises Act, 10% of net profit for each year must be transferred to the legal reserve until the balance of this reserve reaches at least 20% of the share capital.


More Definitions of Legal reserve

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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Legal reserve means a reserve that is a realised financial reserve which is—
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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 sum which
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Legal reserve means, after the Company has covered its losses and all
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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.

  • Capital Reserve means for any period and with respect to a Property (other than any Projects Under Development), an amount equal to the product of (i) the gross leaseable area contained in such Property (in square feet), multiplied by (ii) $0.30 per annum.

  • 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 s website” means the website of the Federal Reserve Bank of New York (the “NY Federal Reserve”), currently at http://www.newyorkfed.org, or any successor website of the NY Federal Reserve or the website of any successor administrator of the Secured Overnight Financing Rate.

  • 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, on any day, an amount equal to the sum of: (a) the Yield Reserve, plus (b) the greater of (i) the sum of the Loss Reserve plus the Dilution Reserve and (ii) the sum of the Concentration Reserve plus the Minimum Dilution Reserve.

  • Actuarial reserve means a method of financing a pension or

  • New York Federal Reserve s Website" means the website of the Federal Reserve Bank of New York currently at http://www.newyorkfed.org, or any successor website;

  • 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.

  • OTS The Office of Thrift Supervision.

  • Working Capital Reserve means a cash reserve held in the Operating Account that is readily available to Manager during the Term to finance the services, repairs and maintenance described in Section 5.2 including Minor Capital Expenditures and Major Capital Expenditures, insurance premiums for the Property described in Section 9.1, and utilities for the Property, in such amounts as determined by the Owner in its sole discretion.

  • OCC means the Office of the Comptroller of the Currency.

  • NY Federal Reserve’s Website means the website of the NY Federal Reserve, currently at xxxx://xxx.xxxxxxxxxx.xxx, or any successor website of the NY Federal Reserve or the website of any successor administrator of the Secured Overnight Financing Rate.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Federal Reserve Bank means the Federal Reserve Bank of the United States of America.

  • Regulation Y means Regulation Y of the Board of Governors of the Federal Reserve System, as the same may be in effect from time to time, and any successor regulations.

  • Federal Reserve Act means the Federal Reserve Act, as amended.

  • 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.

  • Proven Mineral Reserve means the economically mineable part of a Measured Mineral Resource. A Proven Mineral Reserve implies a high degree of confidence in the Modifying Factors.

  • Federal Reserve Bank Book-Entry System means a depository and securities transfer system operated by the Federal Reserve Bank of the United States on which are eligible to be held all United States Government direct obligation bills, notes and bonds.

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

  • New York Federal Reserve’s Website means the website of the New York Federal Reserve, currently at http://www.newyorkfed.org, or any successor website of the New York Federal Reserve or the website of any successor administrator of SOFR.