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, "How GE Built Up and Wrote Down $22 Billion in Assets," 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, "Judge Sides Against Ackman and Valeant in Preliminary Allergan Ruling," 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.

First Known Use of legal reserve

circa 1902, in the meaning defined above

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The first known use of legal reserve was circa 1902

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More Definitions for legal reserve

legal reserve

Legal Definition of legal reserve

see reserve

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