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Iowa Code § 262.40

Limitation on discharging obligations

Showing this section's text as in effect on January 1, 2012 (in force January 1, 2012 – January 1, 2013). View current text →

In discharging obligations under section 262.39 the dormitories at each of said institutions shall be considered as a unit and the rents, profits, and income available for dormitory purposes at one institution shall not be used to discharge obligations created for dormitories at another institution.

Referred to in

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.