Statute · New York Banking Law
N.Y. Banking Law § 459 — Allowance for loan loss
N.Y. Banking Law § 459
- Type
- Statute
- Source
- New York Banking Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 459. Allowance for loan loss. An allowance for loan loss account shall be established and maintained in an amount that represents the current estimated loss on loans. The allowance for loan loss account requirement shall be computed and adjusted, through the provision for loan loss account,…
Citator
N.Y. Banking Law § 459 — Allowance for loan loss is in force in the current edition of the Code, and nothing recorded condemns it.
§ 459. Allowance for loan loss. An allowance for loan loss account shall be established and maintained in an amount that represents the current estimated loss on loans. The allowance for loan loss account requirement shall be computed and adjusted, through the provision for loan loss account, prior to the payment of dividends.
The calculation of this account shall be in accordance with the rules established by the National Credit Union Administration.