2007 Minnesota Statutes

424B.07 DISSOLUTION OF PRIOR GENERAL FUND BALANCES.
Before the effective date of consolidation, the secretaries of the volunteer firefighters relief
associations shall settle any accounts payable from the respective general fund or any other relief
association fund in addition to the relief association special fund. Investments held by a fund of
the prior relief associations in addition to the special fund must be liquidated before the effective
date of consolidation as the bylaws of the relief association provide. Before the effective date of
consolidation, the respective relief associations must pay all applicable general fund expenses
from their respective general funds. Any balance remaining in the general fund or in a fund other
than the relief association special fund as of the effective date of consolidation must be paid to the
new general fund of the subsequent volunteer firefighters relief association.
History: 2000 c 461 art 16 s 7