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Minnesota Legislature

Office of the Revisor of Statutes

48.64 DEPOSITS OF TRUST FUNDS.
Any person, firm, or corporation appointed by a court of competent jurisdiction as
representative of the estate of a deceased person, or as guardian or conservator, or any trustee of a
firefighters' relief association, or any referee, receiver, or trustee appointed by a court of record in
this state, may deposit funds for safekeeping and disbursing, unless otherwise directed by the
court, in any bank, credit union, if the beneficial owner is a member, or trust company, however
organized, the deposits of which are insured, in whole or in part, by an agency of the federal
government insuring deposits, to the extent that the funds so deposited are fully insured.
History: (7697-9) 1937 c 318 s 1; 1977 c 429 s 63; 1986 c 444; 1993 c 257 s 24; 1999
c 171 s 5