262.40 - LIMITATION ON DISCHARGING OBLIGATIONS. - Iowa Statutes

262.40 LIMITATION ON DISCHARGING OBLIGATIONS. In discharging obligations under section 262.39 the dormitories at each of said institutions shall be considered as a unit and the rents, profits, and income available for dormitory purposes at one institution shall not be used to discharge obligations created for dormitories at another institution.          Section History: Early Form [C27, 31, 35, § 3945-a6; C39, § 3945.6; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 262.40] Referred to in § 262.34B, 262A.2