Maintaining an allowance for loan and lease loss account.

13-03-06-02. Maintaining an allowance for loan and lease loss account. All credit unions operating under a charter issued by the state of North Dakota shall be required to maintain an allowance for loan and lease loss account in accordance with generally accepted accounting principles and rules of the national credit union administration. History: Amended effective June 1, 1979; January 1, 1981; January 1, 2007; January 1, 2013; January 1, 2019. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-08.4, 6-06-21