Title 7 Part 1212 → Subpart A → §1212.54

Title 7 → Subtitle B → Chapter XI → Part 1212 → Subpart A → §1212.54

Electronic Code of Federal Regulations e-CFR

Title 7 Part 1212 → Subpart A → §1212.54

§1212.54   Operating reserve.

The Board may establish an operating monetary reserve and may carry over to subsequent fiscal periods excess funds in any reserve so established: Provided that the funds in the reserve do not exceed one fiscal period's budget. Subject to approval by the Department, such reserve funds may be used to defray any expenses authorized under this part.