{"data":{"id":"us-mn/minn.-stat.-501c.1107","jurisdiction":"us-mn","citation":"Minn. Stat. § 501C.1107","heading":"BOND PREMIUM AND DISCOUNT.","body":"Subdivision 1. Principal.\nBonds or other obligations for the payment of money are principal at their inventory value, except as provided in subdivision 2 for discount bonds. No provision may be made for amortization of bond premiums or for accumulation for discount. The proceeds of sale, redemption, or other disposition of the bonds or obligations are principal.\nSubd. 2. Income.\nThe increment in value realized upon sale, redemption, or other disposition of a bond or other obligation for the payment of money bearing no stated interest but payable or redeemable at maturity or at a future time at an amount in excess of the amount in consideration of which it was issued or in accordance with a fixed schedule of appreciation, is distributable as income. The increment in value is distributable to the beneficiary who was the income beneficiary at the time of increment from the first principal cash available or, if none is available, when realized by sale, redemption, or other disposition. Whenever unrealized increment is distributed as income but out of principal, the principal must be reimbursed for the increment when realized.","path":["PROPERTY AND PROPERTY INTERESTS","CHAPTER 501C. TRUSTS","UNIFORM PRINCIPAL AND INCOME ACT"],"source_url":"https://www.revisor.mn.gov/statutes/cite/501C.1107","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:48Z","sha256":"5facc97b307274b88a47d8fc72212ab9f737745a26ed4d0127a36d4346f55039","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-501c.1106","next":"us-mn/minn.-stat.-501c.1108"},"notice":"GroundRules: Original legal text. Not legal advice."}