1998 Minnesota Statutes

     231.05 Accounts.  

    The department shall have the power to compel every 
 warehouse operator to keep and maintain accurate, complete, and 
 comprehensive accounts, including records of service furnished 
 and commissions paid, as well as accounts of earnings and 
 expenses, and it may examine and audit such accounts from time 
 to time.  Such accounts shall provide for forms showing all 
 sources of income, the amounts due and received from each 
 source, and the amounts expended and for each purpose, 
 distinguishing clearly all payments for operating expenses from 
 those for new construction, extensions, additions, repairs, or 
 replacements, and for balance sheets showing assets and 
 liabilities.  

    The department may require every warehouse operator 
 engaged, directly or indirectly, in any business other than the 
 warehouse business to keep separately, in like manner and form, 
 the accounts of all such other business, and the department may 
 provide for the examination and inspection of the books, 
 accounts, papers, and records of such other business, insofar as 
 may be necessary to enforce any provisions of this chapter.  The 
 department shall have the power to inquire as to, and prescribe 
 the apportionment of capitalization, earnings, debts and 
 expenses, fairly and justly to be awarded or borne by the 
 ownership, operation, management or control of such warehouse as 
 distinguished from such other business.  

    HIST: (5177) 1915 c 210 s 6; 1971 c 25 s 67; 1986 c 444