2004 Minnesota Statutes

     256.89 Fund deposited in state treasury. 

    The social welfare fund and all accretions thereto shall be 
 deposited in the state treasury, as a separate and distinct 
 fund, to the credit of the commissioner of human services as 
 trustee for the beneficiaries thereof in proportion to their 
 several interests.  The commissioner of finance shall be 
 responsible only to the commissioner of human services for the 
 sum total of the fund, and shall have no duties nor direct 
 obligations toward the beneficiaries thereof individually.  
 Subject to the rules of the commissioner of human services money 
 so received by a local social services agency may be deposited 
 by the executive secretary of the local social services agency 
 in a local bank carrying federal deposit insurance, designated 
 by the local social services agency for this purpose.  The 
 amount of such deposit in each such bank at any one time shall 
 not exceed the amount protected by federal deposit insurance.  

    HIST: (4463) 1923 c 106 s 2; 1939 c 8 s 2; 1984 c 654 art 5 s 
 58; 1985 c 248 s 70; 1994 c 631 s 31; 2003 c 112 art 2 s 50