2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.081 Medical expenses; insurance; pensions.

300.081 Medical expenses; insurance; pensions.

Subdivision 1. Authorization. A corporation formed under the laws of the state of Minnesota may provide by action of its board of directors for the furnishing to its employees and officers, wholly or in part at the expense of the corporation, of medical expenses, and insurance against accident, sickness, disability or death. The board may adopt a plan for retirement allowances or pensions to employees and officers based on services rendered before, after, or before and after, the plan is adopted. A pension or allowance may be payable in amounts, at times, and upon conditions determined by the board of directors of the corporation.

Subd. 2. Acts legalized. All allowances for medical expenses, insurance against accident, sickness, disability or death, and retirement allowances or pensions granted or paid before April 23, 1947, by a corporation to its employees and officers pursuant to action by its board of directors, are validated.

HIST: 1947 c 446 s 1,2; 1984 c 628 art 5 s 1