§ 26-51-426 - Deductions -- Reserve for bad debts or liabilities.
26-51-426. Deductions -- Reserve for bad debts or liabilities.
Any bank, building and loan, savings and loan, or any other savings institution chartered and supervised as a savings and loan or similar associations under federal or state law shall be allowed a bad debt expense deduction computed in accordance with Internal Revenue Code of 1986 582, 585, and 593, as in effect on January 1, 1999.