legal reserve

noun

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

Example Sentences

Recent Examples on the Web That January, the order became the Praetorian Mutual Life Insurance Co., a legal reserve life insurance company. Spencer Bevis, Dallas News, 26 Sep. 2021 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.

Word History

First Known Use

circa 1902, in the meaning defined above

Time Traveler
The first known use of legal reserve was circa 1902

Dictionary Entries Near legal reserve

Cite this Entry

“Legal reserve.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/legal%20reserve. Accessed 28 Nov. 2022.

Legal Definition

legal reserve

see reserve

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