Statutes > Tennessee Statutes > Title 45 - Banks And Financial Institutions > Chapter 4 - Credit Unions > Part 7 - Capital and Reserves > 45-4-702 - Reserve income.

45-4-702 - Reserve income.

45-4-702. Reserve income.

All entrance fees, transfer fees and charges shall, after the payment of the organization expenses, be known as reserve income and shall be added to the reserve fund of the credit union.

[Acts 1923, ch. 68, § 20; Shan. Supp., § 2198a27; Code 1932, § 3854; Acts 1947, ch. 125, § 1; C. Supp. 1950, § 3854; Acts 1967, ch. 227, § 5; 1974, ch. 557, § 16; T.C.A. (orig. ed.), § 45-1825.]