Republic Acts1 min read
Section 19October 21, 1997, Sec./Art. 19
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Reserves. – Every Association shall create a withdrawable share reserve which shall consist of two percent (2%) of the total capital contributions of the members which the Monetary Board may increase to a maximum of three percent (3%), as the situation warrants.
No Association shall distribute to its members any portion of its net income if its withdrawable share reserve is less than the minimum requirement, or if by such payment or distribution, such reserve will be reduced to an amount below the minimum requirement provided herein.
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