Section 62N.32 Deposit Requirement
62N.32 DEPOSIT REQUIREMENT.
A community network must satisfy the deposit requirement provided in section 62D.041. The deposit counts as an admitted asset and as part of the required net worth. The deposit requirement cannot be reduced by the alternative means that may be used to reduce the net worth requirement, other than through the use of a guaranteeing organization.
History:
1994 c 625 art 1 s 12