Minnesota Statutes 50.20 – Report to Show Liabilities
This report shall also state all its liabilities on the morning of January first, and show:
Terms Used In Minnesota Statutes 50.20
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
(1) the amount due the depositors, including any dividend to be credited to them for the half year ending on that day; and
(2) all other debts or claims against it which are or may be a charge upon its assets.
It shall also state the amount deposited during the previous year and the amounts withdrawn during the same period; the whole amount of interest or profits received or earned and the amount of dividends or interest credited to depositors; the number of accounts opened or reopened; the number of accounts closed during the year; and the number of open accounts at the end of the year; and such other information as may be required by the commissioner of commerce.