Minnesota Session Laws - 2001, Regular Session

                            CHAPTER 75-H.F.No. 1247 
                  An act relating to veterans homes; providing for the 
                  veterans homes board to administer planned giving 
                  donations; amending Minnesota Statutes 2000, section 
                  198.16; repealing Minnesota Statutes 2000, section 
                  198.161. 
        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
           Section 1.  Minnesota Statutes 2000, section 198.16, is 
        amended to read: 
           198.16 [DONATIONS; GENERAL PURPOSES PLANNED GIVING.] 
           The board is authorized to accept on behalf of the state 
        any gift, grant, bequest, or devise made for the purposes of 
        this chapter, and administer the same as directed by the donor.  
        All proceeds therefrom including money derived from the sale of 
        any real or personal property shall must be deposited in the 
        state treasury and, invested by the state board of investment in 
        accordance with sections 11A.24 and 11A.25, and credited to the 
        Minnesota veterans home endowment, bequest, and devises 
        fund.  Said That fund shall consist consists of two separate 
        accounts, one of which shall include any trusts prescribed by 
        the donor, the other shall include for investing general and 
        restricted gifts, money, and donations received and for any 
        currently expendable proceeds.  
           The board shall maintain records of all gifts received, 
        clearly showing the identity of the donor, the purpose of the 
        donation, and the ultimate disposition of the donation.  Each 
        donation must be duly receipted and must be expended or used by 
        the board as nearly in accordance with the condition of the gift 
        or donation as is compatible with the best interests of the 
        residents of the homes.  Money in the fund is appropriated to 
        the board for the purposes for which it was received.  
        Disbursements from this fund shall be made in the manner 
        provided for the issuance of other state warrants. 
           Whenever the board shall deem it advisable, in accordance 
        with law, to sell or otherwise dispose of any real or personal 
        property thus acquired, the commissioner of administration upon 
        the request of the board shall sell or otherwise dispose of said 
        property in the manner provided by law for the sale or 
        disposition of other state property by the commissioner of 
        administration.  
           Sec. 2.  [REPEALER.] 
           Minnesota Statutes 2000, section 198.161, is repealed. 
           Presented to the governor May 2, 2001 
           Signed by the governor May 4, 2001, 10:48 a.m.