2005 Minnesota Statutes - 315.24 — Special powers.

     315.24 Special powers. 


    A corporation may receive in trust for a parish, mission, 
 local church society, or congregation, incorporated or not, 
 property given, granted, transferred, devised, or bequeathed to 
 it for the use of the parish, mission, local church society, or 
 congregation, for religious, charitable, or educational 
 purposes.  The corporation may hold the property, and its rents, 
 issues, and profits, until the parish, mission, local church 
 society, or congregation demands its conveyance.  From time to 
 time, when required, the corporation shall account for the 
 rents, issues, and profits.  Property now held in trust by a 
 person, corporation, or trustees for the use and benefit of the 
 religious body forming a corporation under section 315.23, or 
 its parishes, missions, societies, congregations, or local 
 churches, may, with the consent of the beneficiary, be conveyed 
 and the title to it vested in the corporation as the successor 
 in the trust.  The corporation may not create a lien on or 
 encumber property held by it in trust.  


    HIST: (7989) RL s 3154; 1985 c 265 art 5 s 1