Associations shall determine the need for valuation allowances at least as of the end of each calendar quarter and as of the date of published financial statements and any necessary provisions for loss shall be recorded in accordance with generally accepted accounting principles.

Note: Authority cited: Section 5255, Financial Code. Reference: Section 8706, Financial Code.

History

1. Change without regulatory effect renumbering former Section 104 to Section 105.103 (Register 87, No. 14). For prior history, see Register 83, No. 49.