1.1 	A bill for an act
1.2 	relating to retirement; various retirement plans; disallowing the creation of 
1.3 	liquidating trusts for any purpose; proposing coding for new law in Minnesota 
1.4 	Statutes, chapter 356.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. [356.493] PROHIBITION ON LIQUIDATING TRUST CREATION.
1.7 	A Minnesota public retirement plan governed by section 356.20 may not create a 
1.8 	liquidating trust for any purpose and may not deposit any of its assets in a liquidating trust.

1.9 	EFFECTIVE DATE. This section is effective the day following final enactment.