2000 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 state treasurer 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