2005 Minnesota Statutes - 16A.014 — Administration of gifts.

     16A.014 Administration of gifts. 


    In case any such gift, bequest, devise, or endowment is so 
 accepted, the same and the proceeds thereof shall be 
 administered and applied according to the terms of the will, 
 deed of gift, or other instrument defining, providing for, 
 creating, or establishing the same; but all such property and 
 funds shall be held by the commissioner of finance in an 
 official capacity and paid out and disbursed the same as other 
 state funds.  


    HIST: 1907 c 170 s 2; 1986 c 444; 2003 c 112 art 2 s 50