N.D. Cent. Code § 10-30-09
This is the official text of N.D. Cent. Code § 10-30-09, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
10-30-09. Earned surplus
Official statutory text
10-30-09. Earned surplus
Each year, the corporation shall set apart all of its net earnings as retained earnings. The
corporation shall hold part of the retained earnings as a reserve for bad debts. The corporation
may use the rest of the retained earnings in the course of its business. The amount held as a
reserve for bad debts must be at least the amount recommended by the firm of certified public
accountants that the board of directors approves to audit the corporation's financial statements.
The board shall establish procedures for investing funds held as a reserve for bad debts.
Each year, the corporation shall set apart all of its net earnings as retained earnings. The
corporation shall hold part of the retained earnings as a reserve for bad debts. The corporation
may use the rest of the retained earnings in the course of its business. The amount held as a
reserve for bad debts must be at least the amount recommended by the firm of certified public
accountants that the board of directors approves to audit the corporation's financial statements.
The board shall establish procedures for investing funds held as a reserve for bad debts.
Status: in_force · Read it on the official government site
Need a lawyer in North Dakota?
Find a North Dakota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.