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- A legal reserve is:Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.the smallest amount of money that financial organizations such as banks must keep to protect themselves against future financial losses, to pay legal fees, etc.: The company will increase its legal reserves by a further $4.95bn to cover the cost of litigation surrounding its role in the dispute.dictionary.cambridge.org/dictionary/english/legal-re…Legal Reserve Liquid assets that life insurance companies are required by statute to set aside and maintain to assure payment of claims and benefits. In banking, that percentage of bank deposits that must by law be maintained in cash or equally liquid assets to meet the demands of depositors.legal-dictionary.thefreedictionary.com/Legal+Reserve
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Legal reserve Definition & Meaning - Merriam-Webster
WebJan 6, 2023 · The meaning of LEGAL RESERVE is the minimum amount of bank deposits or life insurance company assets required by law to be kept as reserves.
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WebWhat is the legal reserve? The legal reserve is part of a company’s equity that cannot be distributed to shareholders or used to offset any losses, for example. It is legally …
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LEGAL RESERVES definition | Cambridge English Dictionary
WebLEGAL RESERVES meaning: the smallest amount of money that financial organizations such as banks must keep to protect…. Learn more.
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WebThis policy reserve (Legal Reserve) fund is a liability to the life insurance company. The fund is established as a way of determining or measuring the assets the company must …
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WebLegal reserve definition: the amount of cash assets that a bank, insurance company, etc., is required by law to set aside as reserves.. See examples of LEGAL RESERVE used in a …
Legal Reserve - FindLaw Dictionary of Legal Terms
WebWhat is 'Legal Reserve'? Learn more about legal terms and the law at FindLaw.com.
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WebMay 28, 2023 · Legal Reserve Ratio = Cash Reserve Ratio + Statutory Liquidity Ratio. Bank Reserves Throughout History. Before the advent of bank reserves, banks were …
Legal Reserve legal definition of Legal Reserve
WebDefinition of Legal Reserve in the Legal Dictionary - by Free online English dictionary and encyclopedia. What is Legal Reserve? Meaning of Legal Reserve as a legal term.
Reserve - FindLaw Dictionary of Legal Terms
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WebJan 26, 2024 · What is Legal Reserve in Balance Sheet. Legal reserve term used accounting refer portion company’s profits set aside company comply legal …
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WebUpdated March 09, 2024. Reviewed by. Somer Anderson. Fact checked by. Betsy Petrick. What Are Bank Reserves? Bank reserves are the cash minimums that financial …
Legal Reserves Definition | Law Insider
Webdefinition. Legal Reserves means the legal reserve allocated in accordance with Applicable Law, if any. Legal Reserves means reserves set aside from net profits …
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WebUpdated February 22, 2021. Reviewed by. Anthony Battle. What Are Statutory Reserves? Statutory reserves are the funds that state insurance regulators require the insurance...
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WebA legal reserve life insurance company simply does not close its doors and go out of business declaring that all policies are null and void. Legal reserve life insurance …
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WebA statutory reserve is a legal requirement for insurance companies to hold a certain amount of funds in reserves to protect policyholders’ future benefits and ensure that …
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Webnoun [ plural ] FINANCE, LAW uk us. Add to word list. the smallest amount of money that financial organizations such as banks must keep to protect themselves against future …
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WebLegal reserve is a fundamental concept in banking and finance. It is a key tool for regulators to promote financial stability and protect the interests of depositors. Understanding the …
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WebApr 18, 2024 · Reserve accounting signifies figures that indicate resources preserved to be utilized for specific purposes. These are gains that can help accomplish various …
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WebLegal reserve ratio refers to the minimum fraction of deposits which the banks are mandated to keep as cash themselves. The legal reserve ratio is fixed by central bank. …
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WebMay 27, 2021 · What is a legal reserve? A legal reserve refers to the minimum amount of cash assets which a financial institution is legally required to hold in reserve …
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WebLegal reserve ratio refers to the minimum fraction of deposits which the banks are mandate to keep as cash themselves. The legal reserve ratio is fixed by Central bank. …
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WebMar 31, 2024 · This document together with Part 1 make up the Cardmember Agreement (Agreement) for the Account identified on page 1 of Part 1. Any supplements or …
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