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legal reserve

American

noun

the amount of cash assets that a bank, insurance company, etc., is required by law to set aside as reserves.

Etymology

Origin of legal reserve

First recorded in 1920–25

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Lovejoy thought about the Brazilian law and realized that the legal reserve could provide a way to probe these questions.

From Nature • Apr. 17, 2013

At that time there were 138 legal reserve companies with aggregate assets of $2,924,253,848.

From Time Magazine Archive

Since the average legal reserve is approximately 10%, the "excess" will suffice for additional deposits up to ten times that surplus.

From Time Magazine Archive

The Mutual Life Insurance Company of New York, which is the oldest legal reserve life insurance company in America, reported 1923 as the greatest year in its 81 years of existence.

From Time Magazine Archive

Only a portion of this output is consumed by the arts and in jewelry, and in the natural legal reserve of Governments.

From Colorado?The Bright Romance of American History by Grable, F. C.

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023