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Office of the Revisor of Statutes

2005 Minnesota Statutes Index (topics)

TRUSTEES

See also TRUSTS

Accounting and bookkeeping, Minn. Statutes 2005 501B.23

Acknowledgments in a representative capacity, Minn. Statutes 2005 358.41, 2005 358.50

Additional trustees, Minn. Statutes 2005 501B.14

Advances

Repayment, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Advisors to

Employment by trustee, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Affidavits, real property transactions, Minn. Statutes 2005 501B.57

Agricultural land

Acquisition of title, acquisition of title, Minn. Statutes 2005 500.221

Annuities, allocation of principal and income, Minn. Statutes 2005 501B.69

Appointment

Baseball park (major league), revenue bond holders, Minn. Statutes 2005 473I.06

Confirmation, Minn. Statutes 2005 501B.22

Decedents, death by wrongful act, Minn. Statutes 2005 573.02

Dissolution of marriage, Minn. Statutes 2005 518.61

Generally, Minn. Statutes 2005 49.215

Partnerships, events causing expulsion of partners, Minn. Statutes 2005 323A.0601

Assets of trust, see Trust assets, powers of trustees under this topic

Assignment of mortgages

Foreclosure, duties, generally, Minn. Statutes 2005 582.11, 2005 582.12

Authenticating trustees, investment securities

Registration of transfer, duties, Minn. Statutes 2005 336.8-407

Unauthorized signatures, Minn. Statutes 2005 336.8-205

Warranties, Minn. Statutes 2005 336.8-208

Bankruptcy, see Trustees under BANKRUPTCY

Banks acting as, see Trustees, banks acting as under BANKS

Beneficiaries

Nonmerger of trusts, Minn. Statutes 2005 501B.13

Trustees as, discretionary distributions, Minn. Statutes 2005 501B.14

Bonds (officers and fiduciaries)

Insurance companies, liquidation, filing new bonds, Minn. Statutes 2005 60B.26

Lawsuits on, Minn. Statutes 2005 574.11, 2005 574.25

Running to state, Minn. Statutes 2005 574.11

Surety costs, expense claims, Minn. Statutes 2005 574.19

Buildings, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Business corporations

Defined as legal representatives, Minn. Statutes 2005 302A.011

Shares controlled by, voting rights, Minn. Statutes 2005 302A.447, 2005 302A.453

Businesses

Operation, separate accounts, allocation of principal and income, Minn. Statutes 2005 501B.665

Trustees defined as, Minn. Statutes 2005 363A.03

Cemetery associations, see Trustees under CEMETERY ASSOCIATIONS

Charitable organizations, Minn. Statutes 2005 309.52, 2005 309.53, 2005 309.55

Charitable trusts, see CHARITABLE TRUSTS

Child support, appointment to receive payment, Minn. Statutes 2005 518.61

Claims, compromise and settlement

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Common interest communities

Associations as, Minn. Statutes 2005 515B.3-119

Compensation and salaries

Payment, Minn. Statutes 2005 181.16

Uniform Principal and Income Act, Minn. Statutes 2005 501B.71

Condominiums

Unit owners association as, Minn. Statutes 2005 515.25, 2005 515A.3-117

Confirmation, see Court proceedings under TRUSTS

Continuing care facilities, rehabilitation, Minn. Statutes 2005 80D.11

Contracts and agreements

Entering into, powers of trustees, Minn. Statutes 2005 501B.81

Nonjudicial settlement agreements, Minn. Statutes 2005 501B.154, 2005 501B.155

Sale, mortgage or lease of real property, confirmation, Minn. Statutes 2005 501B.52, 2005 501B.53

Conveyance of real property

Encumbrances, Minn. Statutes 2005 507.20, 2005 507.21

Registered land, see Trustees under LAND REGISTRATION

Copyrights

Allocation of principal and income, Minn. Statutes 2005 501B.69

Corporate trustees

Replacement, successor corporate trustee, Minn. Statutes 2005 501B.08

Corporations

Generally, see Trustees under CORPORATIONS

Legal work, Minn. Statutes 2005 481.02

County law libraries, see Board of trustees under COUNTY LAW LIBRARIES

Creditors of trustees

Express trust not declared, effect, Minn. Statutes 2005 501B.05

Custodial trustees

Acceptance, Minn. Statutes 2005 529.04

Accounting by, Minn. Statutes 2005 529.14

Defined, Minn. Statutes 2005 529.01

Designation, Minn. Statutes 2005 529.03

Duties and powers, generally, Minn. Statutes 2005 529.06, 2005 529.07

Generally, Minn. Statutes 2005 529.12, 2005 529.13

Lawsuits against, limitations, Minn. Statutes 2005 529.15

Liability, Minn. Statutes 2005 529.11, 2005 529.14

Limitations of action against, Minn. Statutes 2005 529.15

Obligations, Minn. Statutes 2005 529.04

Reports given, Minn. Statutes 2005 529.14

Decedents estates

Liability, estate taxes, payment, Minn. Statutes 2005 291.12

Property, power to sell, Minn. Statutes 2005 291.16

Sale of decedent's property to satisfy judgments, Minn. Statutes 2005 550.04

Tax returns of decedent, inspection, rights, Minn. Statutes 2005 270B.03

Deeds to, Minn. Statutes 2005 507.35

Deferred compensation

Allocation of principal and income, Minn. Statutes 2005 501B.69

Definitions

Business corporations, Minn. Statutes 2005 302A.011

Commercial Code, Minn. Statutes 2005 336.3-307

Custodial trusts, Minn. Statutes 2005 529.01

Employment law, Minn. Statutes 2005 181.60

Estate taxes, apportionment, Minn. Statutes 2005 524.3-916

Human Rights Act, Minn. Statutes 2005 363A.03

Income and franchise taxes, Minn. Statutes 2005 290.01

Industrial development districts, Minn. Statutes 2005 469.153

Investments permitted, Minn. Statutes 2005 501B.59, 2005 501B.79

Limited liability companies, Minn. Statutes 2005 322B.03

Nonprofit corporations, Minn. Statutes 2005 317A.011

Trustees' Powers Act, Minn. Statutes 2005 501B.79

Trusts, Minn. Statutes 2005 501B.35

Unemployment Insurance Law, Minn. Statutes 2005 268.035

Uniform Act for the Simplification of Fiduciary Security transfers, Minn. Statutes 2005 520.21

Uniform Fiduciaries Act, Minn. Statutes 2005 520.01

Uniform Principal and Income Act, Minn. Statutes 2005 501B.59

Uniform Probate Code, Minn. Statutes 2005 524.1-201

Workers' compensation self-insurance, Minn. Statutes 2005 79A.01

Delegation of duties

Agents, selection, reasonable care, Minn. Statutes 2005 501B.152

Determinations by

Distributions, allocation of income, interest, and principal, Minn. Statutes 2005 501B.63, 2005 501B.64

Discretionary powers of distribution

Statutory rule against perpetuities, Minn. Statutes 2005 501A.04

Dissolution of marriage

Appointment to receive payments, Minn. Statutes 2005 518.61

Distribution of interest

Discretionary distributions, Minn. Statutes 2005 501B.14

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Division of trusts, powers, Minn. Statutes 2005 501B.15

Employers, trustees defined as

Employment law, Minn. Statutes 2005 181.60

Unemployment Insurance Law, Minn. Statutes 2005 268.035

Enforcement of terms of trusts

Actions of agents, Minn. Statutes 2005 501B.152

Enumerated powers, trust assets, Minn. Statutes 2005 501B.81

Estates

Administration, Minn. Statutes 2005 501B.60

Tax returns, inspection by trustee, Minn. Statutes 2005 270B.03

Excess business holdings, Minn. Statutes 2005 501B.32

Exemptions, real estate licensure, Minn. Statutes 2005 82.23

Fiduciaries

Trustees defined as

Commercial Code, Minn. Statutes 2005 336.3-307

Estate taxes, apportionment, Minn. Statutes 2005 524.3-916

Income and franchise taxes, Minn. Statutes 2005 290.01

Uniform Act for the Simplification of Fiduciary Security transfers, Minn. Statutes 2005 520.21

Uniform Fiduciaries Act, Minn. Statutes 2005 520.01

Uniform Probate Code, Minn. Statutes 2005 524.1-201

Financial institutions, board of trustees, Minn. Statutes 2005 300.025

Foreign corporations

Foreign corporations acting as, business transactions, Minn. Statutes 2005 303.03

Indemnification, Minn. Statutes 2005 300.083

Withdrawal applications, Minn. Statutes 2005 303.16

Foreign trust associations, acting as, Minn. Statutes 2005 303.25

Grain buyers, orders, Minn. Statutes 2005 223.17

Housing Finance Agency

Appointment, powers and duties, Minn. Statutes 2005 462A.16, 2005 462A.17

Income taxes

Assessment and collection, time limitations, Minn. Statutes 2005 270C.58, 2005 289A.38

Individual retirement accounts

Allocation of principal and income, Minn. Statutes 2005 501B.69

Banks, acting as trustees, Minn. Statutes 2005 48.15

Financial institutions, acting as trustees, Minn. Statutes 2005 47.75

Industrial development districts

Bondholders, rights and remedies, Minn. Statutes 2005 469.163

Limitations on powers, duties, and liabilities, Minn. Statutes 2005 469.161

Industrial loan and thrift companies

Acting as trustees, Minn. Statutes 2005 53.05

Instruments, execution

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Insurable interest, Minn. Statutes 2005 61A.074

Investment Board, management duties, Minn. Statutes 2005 11A.04

Investments by

Diversification, requirement, Minn. Statutes 2005 501B.151

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Higher Education Facilities Authority revenue bonds, Minn. Statutes 2005 136A.38

Higher Education Services Office revenue bonds, Minn. Statutes 2005 136A.178

Investment companies, Minn. Statutes 2005 501B.151

Municipal gas agency bonds, Minn. Statutes 2005 453A.10

Municipal power agency bonds, Minn. Statutes 2005 453.60

Prudent investor rule, compliance, Minn. Statutes 2005 501B.151

Rural Finance Authority bonds, Minn. Statutes 2005 41C.10

Savings association accounts, Minn. Statutes 2005 51A.31

Savings bank accounts, Minn. Statutes 2005 50.17

State university revenue bonds, Minn. Statutes 2005 136F.91

Joint property, casualty, or automobile self-insurance plans

Board of trustees, Minn. Statutes 2005 60F.05

Joint self-insurance employee health plans, Minn. Statutes 2005 62H.05

Judgments

Sale of decedent's property to satisfy, Minn. Statutes 2005 550.04

Lawsuits

Costs and disbursements, recovery, Minn. Statutes 2005 549.14

Death by wrongful act, Minn. Statutes 2005 573.02

Higher Education Facilities Authority revenue bonds, compelling performance, Minn. Statutes 2005 136A.37

Higher Education Services Office revenue bonds, compelling performance, Minn. Statutes 2005 136A.177

Leases

Allocation of principal and income, Minn. Statutes 2005 501B.69

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Legal actions

Duties, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Legal representatives, trustees defined as

Business corporations, Minn. Statutes 2005 302A.011

Limited liability companies, Minn. Statutes 2005 322B.03

Nonprofit corporations, Minn. Statutes 2005 317A.011

Liability

Actions of agents, Minn. Statutes 2005 501B.152

Adjustment between principal and income, exemption, Minn. Statutes 2005 501B.705

Hazardous substances releases, exemption, Minn. Statutes 2005 115B.03

Income taxes, trusts, Minn. Statutes 2005 270C.58, 2005 289A.31

Nontestamentary instruments, disclaimers of interest, Minn. Statutes 2005 501B.86

Public corporations, Minn. Statutes 2005 317A.257

Reliance on provisions of trust, effect, Minn. Statutes 2005 501B.151

Third persons, liability to, insurance, Minn. Statutes 2005 501B.81

Life insurance companies, Minn. Statutes 2005 61A.38

Limited liability companies

Death, incompetency or bankruptcy of individual members, Minn. Statutes 2005 322B.323

Dissolution, termination, receivership, or bankruptcy of corporate members, Minn. Statutes 2005 322B.323

Legal representatives, trustees defined as, Minn. Statutes 2005 322B.03

Membership interests controlled by, voting rights, Minn. Statutes 2005 322B.36

Records, inspection rights, Minn. Statutes 2005 322B.373

Limited partnerships

Appointment, dissociation of partners, events causing, Minn. Statutes 2005 321.0603

Appointment, general partners, events of withdrawal, Minn. Statutes 2005 322A.32

Medical malpractice insurance, Joint Underwriting Association

Stabilization reserve fund, corporate trustee, Minn. Statutes 2005 62F.09

Medical savings accounts

Financial institutions, acting as trustees, Minn. Statutes 2005 47.75, 2005 48.15

Merger of trusts, powers, Minn. Statutes 2005 501B.15

Minnesota State Academies Board

Acting as trustees for academies' properties, Minn. Statutes 2005 125A.62

Mortgages, assignments

Foreclosure, powers and duties, generally, Minn. Statutes 2005 582.11, 2005 582.12

Multiparty accounts, see MULTIPARTY ACCOUNTS

Multiple trusts

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Natural resources

Exploration and removal, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Lawsuits to recover damages, authorizing, Minn. Statutes 2005 115B.17

Nonprofit corporations, see Trustees under NONPROFIT CORPORATIONS

Notice given

Adjustment between principal and income, Minn. Statutes 2005 501B.705

Oaths

Oaths of office, Minn. Statutes 2005 358.06

Power to administer, Minn. Statutes 2005 358.10

Trustees of decedents, Minn. Statutes 2005 573.02

Partnerships, enforcement

Partners' contributions, winding up, Minn. Statutes 2005 323A.0807

Party walls, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Payments to

Misapplication, Minn. Statutes 2005 501B.06

Negotiable instruments, identification of payee, Minn. Statutes 2005 336.3-110

Personal property owned, possessed, or controlled by

Tax listing statements, verification, Minn. Statutes 2005 273.25

Portfolio management, Minn. Statutes 2005 501B.151

Powers reserved by grantor, effect, Minn. Statutes 2005 501B.12

Private foundations, duties, Minn. Statutes 2005 501B.32

Proxies, see PROXIES (PERSONS)

Prudent Investor Act, Minn. Statutes 2005 501B.151

Public corporations, liability of trustees, Minn. Statutes 2005 317A.257

Public grain warehouse operators, default, Minn. Statutes 2005 232.22

Public retirement plans, see Board of trustees under specific plans

Real estate licensure, exemption, Minn. Statutes 2005 82.23

Register of trusts and trustees

Attorney general, duties, Minn. Statutes 2005 501B.37

Reinsurers, Minn. Statutes 2005 60A.092

Religious corporations, see Trustees under RELIGIOUS CORPORATIONS

Religious organizations and societies

Appointment, dissolution proceedings, Minn. Statutes 2005 315.38

Removal for cause, Minn. Statutes 2005 501B.16

Reports given, agricultural land

Restrictions on acquisition of title, Minn. Statutes 2005 500.221

Representatives, trustees defined as, Minn. Statutes 2005 336.1-201

Reserves

Creation, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Residential mortgage originator and servicer licenses, exemptions, Minn. Statutes 2005 58.04, 2005 58.05

Retirement plans

Allocation of principal and income, Minn. Statutes 2005 501B.69

Review by, actions of agents, Minn. Statutes 2005 501B.152

Rural Finance Authority, bondholders, Minn. Statutes 2005 41C.09

Savings associations, see Trustees under SAVINGS ASSOCIATIONS

Savings banks

Accounts, rights, Minn. Statutes 2005 50.17

Acting as trustees, Minn. Statutes 2005 49.38, 2005 50.085

School boards

Independent school districts, authority, Minn. Statutes 2005 123B.02

Securities issued by

Life insurance companies, investments, Minn. Statutes 2005 61A.28

Self-dealing, Minn. Statutes 2005 501B.32

Signatures, income tax returns, Minn. Statutes 2005 289A.08

Sole proprietorships, operation

Separate accounts, allocation of principal and income, Minn. Statutes 2005 501B.665

Split interest trusts, duties, Minn. Statutes 2005 501B.32

Spousal maintenance

Appointment to receive payment, Minn. Statutes 2005 518.61

Subdivision of land

Enumerated powers of trustees, Minn. Statutes 2005 501B.81

Successor trustees

Title to trust assets, vesting, Minn. Statutes 2005 501B.08

Supervision of Charitable Trusts and Trustees Act, Minn. Statutes 2005 501B.33 to 2005 501B.45

Tax returns

Income taxes, trusts, filing, duties, Minn. Statutes 2005 289A.08

Inspection, rights, Minn. Statutes 2005 270B.03

Tax-exempt corporations, liability, Minn. Statutes 2005 317A.257

Taxable expenditures, Minn. Statutes 2005 501B.32

Testamentary trusts, Minn. Statutes 2005 524.1-201

Traffic accident reports, access to data, Minn. Statutes 2005 169.09

Trust assets, powers of trustees

Division and merger of trusts, Minn. Statutes 2005 501B.15

Generally, Minn. Statutes 2005 501B.151, 2005 501B.81

Options, Minn. Statutes 2005 501B.61, 2005 501B.81

Trust companies, acting as trustees

Cemetery associations, see Trustees under CEMETERY ASSOCIATIONS

Companies with 10,000 dollars minimum amount, Minn. Statutes 2005 48A.03

Fiduciary duties and powers, Minn. Statutes 2005 48A.07

Mergers or consolidations, effect, Minn. Statutes 2005 49.38

National banking associations, conversions, Minn. Statutes 2005 49.44

Trust expenses

Payment, enumerated powers of trustees, Minn. Statutes 2005 501B.81

Trustees' Powers Act, generally, Minn. Statutes 2005 501B.79 to 2005 501B.82

Trusts

Terms of, deviation from, court powers, Minn. Statutes 2005 501B.151

Uniform Principal and Income Act

Adjustment between principal and income, powers, Minn. Statutes 2005 501B.705

Discretion, Minn. Statutes 2005 501B.60

Entity distributions, reliance on statements, Minn. Statutes 2005 501B.64

Expenses, charges, Minn. Statutes 2005 501B.61

Income received by trustee, administration of estates, Minn. Statutes 2005 501B.63

Vacancies in trusteeship

Acts performed during, confirmation, Minn. Statutes 2005 501B.08

Viatical settlement proceeds, duties, Minn. Statutes 2005 60A.970

Workers' compensation, see Payments by employers or insurers under WORKERS COMPENSATION