legal reserve

noun

Definition of legal reserve

: the minimum amount of bank deposits or life insurance company assets required by law to be kept as reserves

Examples of legal reserve in a Sentence

Recent Examples on the Web Among the reasons for the changes, GE said, were revisions of some of its assumptions and valuations, additions of $990 million to legal reserves and the change from international to U.S. accounting standards. — Michael Rapoport, WSJ, 13 Mar. 2019 Pershing Square has set aside $75 million in legal reserves related to the case, according to an annual report filed by a Pershing unit. — David Benoit, WSJ, 22 Dec. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'legal reserve.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Cite this Entry

“Legal reserve.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/legal%20reserve. Accessed 23 Sep. 2021.

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