Minn. R. agency 120, ch. 2675, SAVINGS ASSOCIATIONS, pt. 2675.3150
Current through Register Vol. 49, No. 20, November 12, 2024
When interest on loans is calculated and added to the loan balance, and if all or part of such interest is not paid, such amount must be set up as "interest earned but not collected" at time of adjusting the loan balance and can only be transferred to interest received after being actually paid by the borrower.
Minn. R. agency 120, ch. 2675, SAVINGS ASSOCIATIONS, pt. 2675.3150
Statutory Authority: MS s 51A.42