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Funds set aside to cover future expenses, losses, or claims. To retain; to keep in store for future or special use; to postpone to a future time.A legal reserve is a monetary account required by law to be established by insurance companies and banks as protection against losses.

A trial court reserves a point of law by setting it aside for future consideration and allowing the trial to proceed as if the question had been resolved, subject to alteration of the judgment in the event the court en banc decides the question differently.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


v. to keep for oneself a right or a portion of the real property when transferring (conveying) a parcel of real estate to another. (See: reservation)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
The problem with basing your reserve fund forecast on a shorter analysis period is that, for a new building, the lifecycle costs are minimal in the first 10 years, and only start to increase from around year 15 onwards.
The Reserve Fund Law states that sponsors must provide a reserve fund in an amount no less than three percent of the total price of all of the units offered for sale, specifically, "[t]he sum of the cost of all units in the offering at the last price which was offered to tenants in occupancy prior to the effective date of the [offering] plan regardless of number of sales made."
According to the authors' conversation with an independent CPA who routinely performs CIRA audits, some associations do not maintain a reserve fund because their governing documents do not permit it.
For FY2007, it would allow for additional funding for energy (Function 270) above the President's request that "could be used for research, development, and deployment of renewable and alternative energy." Section 207 would create a deficit-neutral reserve fund that fulfills the purposes of H.R.
"Economics of European Nuclear Power Plant Decommissioning Reserve Fund Management Models", Flavien Tchapga and Jean-Michel Glachant, April 2003.
He said the county will have to tap into its reserve fund of about $1 million.
The Alliance of American Insurers opposes the proposal because it calls for a mandatory reserve fund. The trade group said requiring insurers to set aside money would limit their ability to diversify risk because mandating one approach would hinder insurers from developing their own solutions.
To cover the risk, the bank, the borrower, and the government pay a small percentage between 1.5 to 3.5 percent of the loan amount into a reserve fund. This way, the bank avoids individual classifications.
An Alaska judge has determined that $924 million in reserve funds was wrongly appropriated and has ordered return of the money to a state savings account.
As the rating is based on the quality of both the MBS and the reserve funds, Fitch will be requesting additional information from the issuer related to the reserve funds and their effect on the transaction, including new cash flow runs to determine if the MBS portfolio can provide a sufficient cash flow to provide full and timely payment on the Certificates without relying on the indenture reserves.

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