Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2675 - FINANCIAL INSTITUTIONS
CREDIT UNIONS
Part 2675.6230 - FURNITURE AND FIXTURES ACCOUNT
Universal Citation: MN Rules 2675.6230
Current through Register Vol. 49, No. 13, September 23, 2024
Purchases capitalized to the furniture and fixtures account shall be amortized at the minimum rate of ten percent annually, unless exception is made by the commissioner of commerce. The charge off may be based on the number of full months in which the item was capitalized. Adequate records must be maintained to facilitate a determination of the unamortized amount of each capitalized item.
Statutory Authority: MS s 46.01
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