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SF 1196

2nd Engrossment - 89th Legislature (2015 - 2016) Posted on 05/18/2016 08:51am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - 2nd Engrossment

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A bill for an act
relating to trusts; providing for animal care; proposing coding for new law in
Minnesota Statutes, chapter 501C.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [501C.0408] TRUST FOR CARE OF ANIMAL.
new text end

new text begin Subdivision 1. new text end

new text begin Creation of animal trust authorized; termination. new text end

new text begin A trust may
be created to provide for the care of an animal alive during the grantor's lifetime. The
trust terminates upon the death of the animal or, if the trust was created to provide for
the care of more than one animal alive during the grantor's lifetime, upon the death of
the last surviving animal.
new text end

new text begin Subd. 2. new text end

new text begin Enforcement of trust. new text end

new text begin A trust authorized by this section may be enforced
by a person appointed in the terms of the trust or, if no person is appointed, by a person
appointed by a court. A person having an interest in the welfare of the animal may request
the court to appoint a person to enforce the trust or to remove an appointed person.
new text end

new text begin Subd. 3. new text end

new text begin Application of trust property. new text end

new text begin Property of a trust authorized by this
section may be applied only to its intended use, except to the extent a court determines
that the value of the trust property exceeds the amount required for the intended use.
Upon termination of the trust, or if the court determines the trust has excess funds, the
trustee shall transfer the unexpended or excess trust property pursuant to the terms of the
trust instrument or, if there is no provision in the trust instrument, then the trust passes
to the grantor's heirs-at-law determined as if the grantor died intestate domiciled in this
state at the time of distribution.
new text end

new text begin Subd. 4. new text end

new text begin Public health programs and trusts. new text end

new text begin An irrevocable inter vivos trust
created under this section is subject to section 501C.1206.
new text end