2005 Minnesota Statutes

     301.79 Earned surplus.  

    The corporation shall set apart as an earned surplus all of 
 its net earnings in each and every year until such earned 
 surplus shall equal the total of the paid-in capital.  Said 
 earned surplus shall be held in cash or invested in United 
 States government bonds, and shall be kept and used to meet 
 losses and contingencies of the corporation.  Whenever the 
 amount of the earned surplus becomes impaired, it shall be 
 restored to the required amount in the manner provided for its 
 original accumulation.  

    HIST: 1957 c 896 s 9