Section 60A.1285 Other Impairments
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.
History:
2000 c 350 s 7