Failure of management and the board of directors to make the review and determinations required by this rule, in good faith and in accordance with generally accepted accounting principles, constitutes grounds for supervisory sanction under Sections 7-1-307 and 7-1-308.

KEY: financial institutions

Date of Last Change: November 3, 1998

Notice of Continuation: August 16, 2023

Authorizing, and Implemented or Interpreted Law: 7-1-301(14)