The proceeds from the subsequent resale of lots or parcels the title to which has revested in the corporation under sections 306.21 to 306.24 , or 306.242 , less the costs and expenses incurred in proceedings approved by the district court, become a part of the permanent care and improvement fund of the corporation.
Minn. Stat. § 306.241
DEPOSIT OF NET PROCEEDS FROM LOT RESALES.
1969 c 311 s 3; 1983 c 149 s 1; 1988 c 469 art 5 s 1
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.