{"data":{"id":"us-mn/minn.-stat.-308a.701","jurisdiction":"us-mn","citation":"Minn. Stat. § 308A.701","heading":"RESERVES.","body":"Subdivision 1. Capital reserve.\nA cooperative may set aside a portion of net income as the board determines advisable to create or maintain a capital reserve.\nSubd. 2. Additional reserves.\nIn addition to a capital reserve, the board may:\n(1) set aside an amount not to exceed five percent of the annual net income of the cooperative for promoting and encouraging cooperative organization; and\n(2) establish and accumulate reserves for new buildings, machinery and equipment, depreciation, losses, and other proper purposes.","path":["BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS","CHAPTER 308A. COOPERATIVE LAW","EARNINGS, RESERVE, AND DISTRIBUTION"],"source_url":"https://www.revisor.mn.gov/statutes/cite/308A.701","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:41Z","sha256":"fe77758b09ca104e70405e1c0dc42c1d7fa9e90a55a51502ae2af8145852f3ff","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-308a.645","next":"us-mn/minn.-stat.-308a.705"},"notice":"GroundRules: Original legal text. Not legal advice."}