2005 Minnesota Statutes

     300.081 Medical expenses; insurance; pensions. 

    Subdivision 1.    Authorization.  A corporation formed 
 under the laws of the state of Minnesota may provide by action 
 of its board of directors for the furnishing to its employees 
 and officers, wholly or in part at the expense of the 
 corporation, of medical expenses, and insurance against 
 accident, sickness, disability or death.  The board may adopt a 
 plan for retirement allowances or pensions to employees and 
 officers based on services rendered before, after, or before and 
 after, the plan is adopted.  A pension or allowance may be 
 payable in amounts, at times, and upon conditions determined by 
 the board of directors of the corporation. 

    Subd. 2.    Acts legalized.  All allowances for medical 
 expenses, insurance against accident, sickness, disability or 
 death, and retirement allowances or pensions granted or paid 
 before April 23, 1947, by a corporation to its employees and 
 officers pursuant to action by its board of directors, are 
 validated.  

    HIST: 1947 c 446 s 1,2; 1984 c 628 art 5 s 1