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60A.1285 Other impairments.

If distressed or delinquent mortgage loans being valued according to section 60A.123, subdivisions 3 and 4, are determined to be permanently impaired, a direct write-down must be recognized as a realized loss, and a new cost basis established.

HIST: 2000 c 350 s 7

Official Publication of the State of Minnesota
Revisor of Statutes