Minnesota § 473.662 - EARNINGS, HOW APPLIED
Full text of Minnesota Minnesota Statutes § 473.662 — EARNINGS, HOW APPLIED, with citation guidance and answers to common questions.
§ 473.662. EARNINGS, HOW APPLIED
The earnings of the corporation shall be applied as follows: (a) to the payment of interest on its bonds and of any principal of such bonds which is due and payable; (b) to the establishment of a sufficient fund to pay interest and principal on its bonds which will be payable in the following fiscal year; and (c) to the other purposes set out in section 473.608, subdivision 13. If the amount included in the budget for any year, including the sum necessary to make payment of interest on and principal of bonds in the ensuing fiscal year is not sufficient to meet the needs of the corporation for that year, any deficit shall be included in the budget of the corporation for the following year.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 473.662
What does Minnesota Statutes § 473.662 cover?
Section 473.662 ("EARNINGS, HOW APPLIED") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 473.662?
A common citation format is "Minnesota Statutes § 473.662" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 473.662 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.