North Dakota § 10-30-09 Earned surplus

North Dakota Statutes

§ 10-30-09 — Earned surplus

North Dakota § 10-30-09

Title 10Corporations

Ch. 10-30Development Corporations

This text of North Dakota § 10-30-09 (Earned surplus) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 10-30-09 (2026).

Text

Each year, the corporation shall set apart all of its net earnings as retained earnings. The
corporation shall hold part of the retained earnings as a reserve for bad debts. The corporation
may use the rest of the retained earnings in the course of its business. The amount held as a
reserve for bad debts must be at least the amount recommended by the firm of certified public
accountants that the board of directors approves to audit the corporation's financial statements.
The board shall establish procedures for investing funds held as a reserve for bad debts.

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Each year, the corporation shall set apart all of its net earnings as retained earnings. The
corporation shall hold part of the retained earnings as a reserve for bad debts. The corporation
may use the rest of the retained earnings in the course of its business. The amount held as a
reserve for bad debts must be at least the amount recommended by the firm of certified public
accountants that the board of directors approves to audit the corporation's financial statements.
The board shall establish procedures for investing funds held as a reserve for bad debts.