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SF 2885

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8
1.9

A bill for an act
 relating to retirement; various retirement plans; disallowing the creation of
liquidating trusts for any purpose; proposing coding for new law in Minnesota
Statutes, chapter 356.

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

Section 1.

new text begin [356.493] PROHIBITION ON LIQUIDATING TRUST CREATION.
 new text end

new text begin A Minnesota public retirement plan governed by section 356.20 may not create a
liquidating trust for any purpose and may not deposit any of its assets in a liquidating trust.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end