Charging off or setting up reserves against bad assets

The commissioner, after a determination of value, may order that assets, individually or in the aggregate, to the extent that the assets are overvalued on an association's books, be charged off, or that a special reserve or reserves equal to the overvaluation be set up by transfers from surplus, undivided profits or reserves. Acts 1978, ch. 708, § 3.05; T.C.A., § 45-1512. The commissioner, after a determination of value, may order that assets, individually or in the aggregate, to the extent that the assets are overvalued on an association's books, be charged off, or that a special reserve or reserves equal to the overvaluation be set up by transfers from surplus, undivided profits or reserves. Acts 1978, ch. 708, § 3.05; T.C.A., § 45-1512.