2006 Minnesota Statutes

315.24 SPECIAL POWERS.
A corporation may receive in trust for a parish, mission, local church society, or congregation,
incorporated or not, property given, granted, transferred, devised, or bequeathed to it for the use of
the parish, mission, local church society, or congregation, for religious, charitable, or educational
purposes. The corporation may hold the property, and its rents, issues, and profits, until the parish,
mission, local church society, or congregation demands its conveyance. From time to time, when
required, the corporation shall account for the rents, issues, and profits. Property now held in
trust by a person, corporation, or trustees for the use and benefit of the religious body forming
a corporation under section 315.23, or its parishes, missions, societies, congregations, or local
churches, may, with the consent of the beneficiary, be conveyed and the title to it vested in the
corporation as the successor in the trust. The corporation may not create a lien on or encumber
property held by it in trust.
History: (7989) RL s 3154; 1985 c 265 art 5 s 1