Charging off or setting up reserves against bad assets

After a determination of value, the supervisor may order that assets in the aggregate, to the extent that the assets exceed appraised value, be charged off, or that a special reserve or reserves equal to the depreciation in value be set up by transfers from surplus, undivided profits or reserves. History: 1953 Comp., § 48-15-72, enacted by Laws 1967, ch. 61, § 28.