2000 Minnesota Statutes

     424A.06 Relief association general fund. 

    Subdivision 1.    Establishment of general fund.  Any 
 volunteer firefighters' relief association may establish and 
 maintain a general fund within the relief association.  

    Subd. 2.    General fund assets and revenues.  To the 
 general fund, if established, shall be credited all moneys 
 received from dues, fines, initiation fees, entertainment 
 revenues and any moneys or property donated, given, granted or 
 devised by any person, for unspecified uses.  The treasurer of 
 the relief association shall be the custodian of the assets of 
 the general fund and shall be the recipient on behalf of the 
 general fund of all revenues payable to the general fund.  The 
 treasurer shall maintain adequate records documenting any 
 transaction involving the assets or the revenues of the general 
 fund.  These records shall be open for inspection by any member 
 of the relief association at reasonable times and places. 

    Subd. 3.    Authorized disbursements from the general 
 fund.  Disbursements from the general fund may be made for any 
 purpose authorized by either the articles of incorporation or 
 bylaws of the relief association.  

    Subd. 4.    Investment of assets of the general fund.  
 The assets of the general fund may be invested in any securities 
 authorized by the bylaws of the relief association and may be 
 certified for investment by the state board of investment in 
 fixed income pools or in a separately managed account at the 
 discretion of the state board of investment as provided in 
 section 11A.14. 

    HIST: 1979 c 201 s 16; 1980 c 509 s 163; 1993 c 300 s 13