N.M. Admin. Code § 12.17.4.7
Current through Register Vol. 35, No. 23, December 10, 2024
Section 12.17.4.7 - DEFINITIONSA. "Credit union service organization" is an entity defined in Sections 107(5) (D) and 107(7) (I) of the Federal Credit Union Act ( 12 U.S.C. Sections 1757(5) (D) and 1757(7) (I) and Part 701.27 of the NCUA Rules and Regulations [ 12 C.F.R. Section 701.27 ].B. "Paid-in and unimpaired capital and surplus" means the balance of the paid-in share accounts and deposits, less any loss that may have been incurred for which there is no reserve or which has not been charged against undivided earnings, plus the credit balance (or less the debit balance) of the undivided earnings account, after all losses have been provided for and net earnings or net losses have been added thereto or deducted therefrom. Reserves shall not be considered as part of surplus.N.M. Admin. Code § 12.17.4.7
10/19/90; 9/30/97; Recompiled 10/15/01