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Minn. Stat. § 501B.35

DEFINITIONS.

Known as the Supervision of Charitable Trusts and Trustees Act

The act spans §§ 501B.33 to 501B.45 (13 sections).

Applied in 2 court decisions — leading case State Ex Rel. Humphrey v. Delano Community Development Corp. (1997)

Most recently applied in St. Paul Academy & Summit School v. Kiernat (In Re Kiernat) (January 2006)

1989 c 340 art 1 s 27; 1997 c 222 s 57

Subdivision 1. Scope.

The definitions in this section apply to sections 501B.31 to 501B.45 and do not modify or abridge any law or rule respecting the nature of a charitable trust or the nature and extent of the duties of a trustee except duties imposed by sections 501B.31 to 501B.45 .

Subd. 2. Charitable purpose.

"Charitable purpose" means an actual or purported charitable, philanthropic, religious, social service, educational, eleemosynary, or other public use or purpose.

Subd. 3. Charitable trust.

"Charitable trust" means a fiduciary relationship with respect to property that arises as a result of a manifestation of an intention to create it, and that subjects the person by whom the property is held to equitable duties to deal with the property for a charitable purpose. As used in this definition, property includes all income derived from fees for services.

Subd. 4. Trustee.

"Trustee" means a person or group of persons either in an individual or a joint capacity, or a director, officer, or other agent of an association, foundation, trustee corporation, corporation, or other legal entity who is vested with the control or responsibility of administering property held for a charitable purpose.

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.