750 Ind. Admin. Code 3-3-3

Current through October 31, 2024

Section 750 IAC 3-3-3 - Reserve for risk assets

Authority: IC 28-1-2-7

Affected: IC 28-7-1-9; IC 28-7-1-24

Sec. 3.

At the end of each accounting period, the gross income shall be determined. Based on this amount, there shall be set aside, as a regular reserve, ten percent (10%) of gross income until the reserve shall equal four percent (4%) of total risk assets, then five percent (5%) of gross income until the reserve shall equal six per cent (6%) of total risk assets.

750 IAC 3-3-3

Department of Financial Institutions; Reg No CU-2, Sec 3; filed Jan 29, 1979, 2:45 pm: 2 IR 312; readopted filed Nov 5, 2001, 2:59 p.m.: 25 IR 939; readopted filed Nov 28, 2007, 2:57 p.m.: 20071226-IR-750070649RFA

IAC citation in Indiana Register is incorrectly cited as 750 IAC 3-2-3.