Minnesota Administrative Rules

2675.2200 CHARGED OFF ASSETS; DUAL CONTROL.

Subpart 1.

Record.

A complete record of charged off assets shall be maintained on which all recoveries shall be shown. This record shall also cite authority of directors with regard to any debts that have been compromised, and include signed compromise agreements, if it is possible to obtain them.

The original records of charged off assets shall be maintained under dual control to effect any entry subsequent to the board's charge off resolution.

Subp. 2.

[Repealed, 9 SR 1689]

Subp. 3.

[Repealed, 9 SR 1689]

Statutory Authority:

MS s 46.01

History:

9 SR 1689

Published Electronically:

September 14, 2007