2007 Minnesota Statutes

198.16 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 must
be deposited in the state treasury, 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. That fund consists of separate accounts 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.
History: (4359) RL s 1846; 1913 c 170 s 1; 1945 c 444 s 1; 1967 c 148 s 2; 1969 c 540 s 10;
1971 c 619 s 12; 1973 c 492 s 14; 1975 c 61 s 21; 1988 c 699 s 19; 1993 c 192 s 81; 2001 c 75 s 1