If distressed or delinquent mortgage loans being valued according to section 60A.123 , subdivisions 3 and 4, are determined to be permanently impaired, a direct write-down must be recognized as a realized loss, and a new cost basis established.
Minn. Stat. § 60A.1285
OTHER IMPAIRMENTS.
2000 c 350 s 7
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.