1998 Minnesota Statutes

     51A.31 Savings accounts as legal investments. 

    Subdivision 1.    Legal investments.  Administrators, 
 executors, custodians, conservators, guardians, trustees, and 
 other fiduciaries of every kind and nature, insurance companies, 
 business and manufacturing companies, banks, trust companies, 
 credit unions, and other types of similar financial 
 organizations, charitable, educational, eleemosynary and such 
 public corporations as are authorized by law, funds, and 
 organizations, are specifically authorized and empowered to 
 invest funds held by them, without any order of any court, in 
 savings accounts of associations, and such investments shall be 
 deemed and held to be legal investments for such funds.  

    Subd. 2.    Provisions supplemental.  The provisions of 
 this section are supplemental to any and all other laws relating 
 to and declaring what shall be legal investments for the 
 persons, fiduciaries, corporations, organizations, and officials 
 referred to in this section.  

    HIST: 1969 c 490 s 31; 1988 c 666 s 47; 1996 c 414 art 1 s 44; 
 1997 c 157 s 67; 1998 c 260 s 1