2007 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2007 Statutes New, Amended or Repealed
- 2007 Table of Chapters
- 2007 Statutes Topics (Index)
Chapter 524
Section 524.5-423
Recent History
- 2020 524.5-423 Amended 2020 c 86 art 1 s 36
- 2005 524.5-423 Amended 2005 c 91 s 2
- 2003 524.5-423 New 2003 c 12 art 1 s 62
This is an historical version of this statute chapter. Also view the most recent published version.
524.5-423 SALE, ENCUMBRANCE, OR OTHER TRANSACTION INVOLVING
CONFLICT OF INTEREST.
Any transaction involving the conservatorship estate which is affected by a conflict between
the conservator's fiduciary and personal interests is voidable unless the transaction is expressly
authorized by the court after notice to interested persons. A transaction affected by a conflict
between personal and fiduciary interests includes any sale, encumbrance, or other transaction
involving the conservatorship estate entered into by the conservator, the spouse, descendant,
agent, or lawyer of a conservator, or corporation or other enterprise in which the conservator has a
beneficial interest. Notwithstanding a conflict between the conservator's fiduciary and personal
interests, if the protected person is a parent, child, or sibling of the conservator, the court has
discretion to allow a transaction of beneficial interest to the conservator, as long as the conservator
can prove that this transaction is primarily in the best interest of the protected person.
History: 2003 c 12 art 1 s 62; 2005 c 91 s 2
CONFLICT OF INTEREST.
Any transaction involving the conservatorship estate which is affected by a conflict between
the conservator's fiduciary and personal interests is voidable unless the transaction is expressly
authorized by the court after notice to interested persons. A transaction affected by a conflict
between personal and fiduciary interests includes any sale, encumbrance, or other transaction
involving the conservatorship estate entered into by the conservator, the spouse, descendant,
agent, or lawyer of a conservator, or corporation or other enterprise in which the conservator has a
beneficial interest. Notwithstanding a conflict between the conservator's fiduciary and personal
interests, if the protected person is a parent, child, or sibling of the conservator, the court has
discretion to allow a transaction of beneficial interest to the conservator, as long as the conservator
can prove that this transaction is primarily in the best interest of the protected person.
History: 2003 c 12 art 1 s 62; 2005 c 91 s 2
Official Publication of the State of Minnesota
Revisor of Statutes