reglab/housing_qa huggingface dataset:
MN Stat § 501B.34 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.34 — Charitable Trusts; Supervision By Attorney General.

501B.34 CHARITABLE TRUSTS; SUPERVISION BY ATTORNEY GENERAL. Sections 501B.33 to 501B.45 apply to trustees holding property for charitable purposes. In connection with the supervision, administration, and enforcement of charitable trusts, the attorney general has the rights, duties, and powers in sections 501B.33 to 501B.45, and common law and statutory rights, duties, and powers. History:   1989 c 340 art 1 s 26
MN Stat § 501B.35 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.35 — Definitions.

501B.35 DEFINITIONS. Subdivision 1. Scope. The definitions in this section apply to sections 501B.31 to 501B.45 and do not modify or abridge any law or rule respecting the nature of a charitable trust or the nature and extent of the duties of a trustee except duties imposed by sections 501B.31 to 501B.45. Subd. 2. Charitable purpose. "Charitable purpose" means an actual or purported charitable, philanthropic, religious, social service, educational, eleemosynary, or other public use or purpose. Subd. 3. Charitable trust. "Charitable trust" means a fiduciary relationship with respect to property that arises as a result of a manifestation of an intention to create it, and that subjects the person by whom the property is held to equitable duties to deal with the property for a charitable purpose. As used in this definition, property includes all income derived from fees for services. Subd. 4. Trustee. "Trustee" means a person or group of persons either in an individual or a joint capacity, or a director, officer, or other agent of an association, foundation, trustee corporation, corporation, or other legal entity who is vested with the control or responsibility of administering property held for a charitable purpose. History:  1989 c 340 art 1 s 27; 1997 c 222 s 57
MN Stat § 501B.36 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.36 — Registration And Reporting.

501B.36 REGISTRATION AND REPORTING. The registration and reporting provisions of sections 501B.37 and 501B.38 apply to a charitable trust, including an organization with a charitable purpose, that has gross assets of $25,000 or more at any time during the year, except that the provisions do not apply to: (1) a charitable trust administered by the United States or a state, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any of their agencies or subdivisions; (2) a religious association organized under chapter 315 or chapter 317A; (3) a charitable trust organized and operated exclusively for religious purposes and administered by a religious association organized under chapter 315 or 317A; (4) an organization described in section 509(a)(3) of the Internal Revenue Code of 1986 and operated, supervised, or controlled by or in connection with one or more organizations described in clauses (2) to (5); a pooled income fund as defined in section 642(c)(5) of the Internal Revenue Code of 1986 maintained by an organization described in clauses (2) to (5); or a charitable remainder annuity trust or unitrust, as defined in section 664 of the Internal Revenue Code of 1986; (5) a trust in which the only charitable interest is a contingent interest for which no charitable deduction has been allowed for Minnesota income, inheritance, or gift tax purposes or a trust in which not all of the unexpired interests are devoted to one or more charitable purposes and in which the only charitable interest is an annuity or an income interest with respect to which a charitable deduction is allowed the trust under applicable Minnesota income tax laws; (6) an organization registered with the attorney general pursuant to sections 309.52 and 309.53; (7) a trust for individual and charitable beneficiaries that is described in section 4947(a)(2) of the Internal Revenue Code of 1986, also known as a split-interest trust; or (8) a charitable gift, bequest, or devise not held and continued by a private express trust or corporation even though the gift, bequest, or devise creates a fiduciary relationship, unless there is no named charitable beneficiary in existence or unless a named charitable beneficiary elects in a writing filed with the attorney general and with the fiduciary to come within the provisions of sections 501B.37 and 501B.38. History:  1989 c 340 art 1 s 28; art 2 s 6; 1995 c 235 s 12
MN Stat § 501B.37 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.37 — Register Of Trusts And Trustees.

501B.37 REGISTER OF TRUSTS AND TRUSTEES. Subdivision 1. Establishment of register; transfer to attorney general. The attorney general shall establish and maintain a register of charitable trusts and trustees subject to sections 501B.33 to 501B.45. Subd. 2. Filing of instruments. Except as otherwise provided in section 501B.36, a charitable trust shall register and file with the attorney general a copy of its articles of incorporation or the instrument that created the charitable trust, including any amendments, within three months after the charitable trust first receives possession or control of property authorized or required to be applied, either at present or in the future, for charitable purposes. Subd. 3. Registration fee. A $25 registration fee shall be paid by every charitable trust filing the information required by this section. History:  1989 c 340 art 1 s 29; 1995 c 235 s 13,14
MN Stat § 501B.38 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.38 — Information Filing.

501B.38 INFORMATION FILING. Subdivision 1. Deadlines; extensions. A charitable trust subject to sections 501B.33 to 501B.45 must file with the attorney general a copy of its federal tax or information return, including all schedules and amendments, submitted by the charitable trust to the Internal Revenue Service for the period covered in the trust's accounting year last completed. If the charitable trust does not file a federal tax or information return, it shall file a balance sheet and a statement of income and expenses for the accounting year last completed. Subd. 1a. Extensions. The information required by this section must be filed annually on or before the 15th day of the fifth month following the close of the charitable trust's taxable year as established for federal tax purposes. The time for filing may be extended by application to the attorney general, for up to six months, provided the applicant has requested an extension to file its federal tax return under section 6081 of the Internal Revenue Code of 1986. A charitable trust that files the information required under this subdivision with the attorney general is not required to file the same information with the commissioner of revenue. Subd. 2. Suspension of filing. The attorney general may suspend the filing requirements under subdivision 1 for a particular charitable trust for a reasonable, specifically designated time on written application of the trustee filed with the attorney general. If the filing requirements are suspended, the attorney general shall file in the register of charitable trusts a written statement that the interests of the beneficiaries will not be prejudiced by the suspension and that the information required by this section is not required for proper supervision by the attorney general's office. Subd. 3. Filing fee. A $25 filing fee shall be paid by every charitable trust filing the information required by this section. History:  1989 c 340 art 1 s 30; 1995 c 235 s 15; 1996 c 471 art 13 s 22
MN Stat § 501B.39 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.39 — Public Inspection Of Records.

501B.39 PUBLIC INSPECTION OF RECORDS. The register, copies of instruments, and the reports filed with the attorney general must be open to public inspection. History:   1989 c 340 art 1 s 31
MN Stat § 501B.42 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.42 — Contrary Provisions Of Instrument Invalid.

501B.42 CONTRARY PROVISIONS OF INSTRUMENT INVALID. Sections 501B.33 to 501B.45 apply regardless of contrary provisions of an instrument. History:   1989 c 340 art 1 s 34
MN Stat § 501B.43 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.43 — Cost Of Investigations And Proceedings; Registration And Filing Fees.

501B.43 COST OF INVESTIGATIONS AND PROCEEDINGS; REGISTRATION AND FILING FEES. Subdivision 1. Expenses payable. In a proceeding brought by the attorney general or in which the attorney general intervenes under sections 501B.33 to 501B.45, the judgment or order may provide that the trustee must pay the reasonable expenses necessarily incurred by the attorney general in the investigation and prosecution of the action, including attorneys' fees, if it is determined in the proceeding that the trustee has been guilty of an intentional or grossly negligent breach of trust. Subd. 2. Disposition of money. All money received by the attorney general under this section must be deposited in the state treasury and credited to the general fund. History:   1989 c 340 art 1 s 35
MN Stat § 501B.44 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.44 — Immunity Of Charitable Trusts.

501B.44 IMMUNITY OF CHARITABLE TRUSTS. A charitable trust is an "organization" for purposes of section 317A.257, and that section applies to charitable trusts. History:  1989 c 340 art 1 s 36; art 2 s 7
MN Stat § 501B.45 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.45 — Sale Of Banks Owned By Charitable Trusts.

501B.45 SALE OF BANKS OWNED BY CHARITABLE TRUSTS. Subdivision 1. Definitions. For the purpose of this section, "charitable trust" means a charitable trust subject to supervision by the attorney general under the Supervision of Charitable Trusts and Trustees Act, sections 501B.33 to 501B.45, that is required to divest excess business holdings by section 4943 of the Internal Revenue Code of 1986 and that owned 100 percent of a bank holding company on May 26, 1969, the date of enactment of section 4943 of the Internal Revenue Code of 1954. Subd. 2. Authorization. The stock or assets of one or more banks or a bank holding company owned directly or indirectly by a charitable trust may be sold, assigned, merged, or transferred by the charitable trust under the procedures in section 48.93 to a bank holding company, bank, or other qualified entity as permitted by applicable banking laws without regard to whether the entity acquiring the stock or assets is located in a reciprocating state. Subd. 3. Legislative intent. It is the express intention of the Minnesota legislature to act pursuant to United States Code, title 12, section 1842(d), to permit certain charitable trusts to sell, assign, or transfer certain financial institutions' assets without regard to whether the entity acquiring the assets of the charitable trust is located outside of this state. Subd. 4. Additional acquisitions. A bank holding company, other than a reciprocating state bank holding company as defined in section 48.92, subdivision 8, that directly or indirectly acquires control of a bank located in this state under the provisions of this section may acquire additional bank assets through the expenditure of an annual amount not to exceed five percent of the Minnesota assets of the acquired bank holding company as of December 31 of the preceding year. The restrictions within this subdivision apply only until the bank holding company making an acquisition under this section becomes a reciprocating state bank holding company. This section does not prohibit the bank holding company from being granted a charter for a de novo bank or from establishing de novo detached facilities pursuant to Minnesota law. History:   1989 c 340 art 1 s 37
MN Stat § 501B.46 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.46 — Petition For Court Order To Sell, Mortgage, Or Lease Real Property Held In Trust.

501B.46 PETITION FOR COURT ORDER TO SELL, MORTGAGE, OR LEASE REAL PROPERTY HELD IN TRUST. (a) Except as provided in paragraph (c), if the assets of an express trust by will or other written instrument include real property in this state that the trustee is not, under the terms of the trust, then permitted to sell, mortgage, or lease, and if section 501C.0205 is applicable to the trust, the trustee or a beneficiary of the trust may petition the court then having jurisdiction of the trust for an order directing the trustee to sell, mortgage, or lease the real property or a part of the real property. (b) Except as provided in paragraph (c), if the assets of an express trust by will or other written instrument include real property in this state that the trustee is not, under the terms of the trust, then permitted to sell, mortgage, or lease, and if section 501C.0205 is not applicable to the trust, the trustee or a beneficiary of the trust may petition an appropriate district court under section 501C.0202 for an order directing the trustee to sell, mortgage, or lease the real property or a part of the real property. (c) If a trust is of the kind described in section 501C.1202, subdivision 3, no order described in paragraph (a) or (b) may be entered upon a petition filed by a person other than the trustee. History:  1989 c 340 art 1 s 38; 1990 c 581 s 3; 2015 c 5 art 15 s 10
MN Stat § 501B.47 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.47 — Petition By Owner Of Present Or Future Interest For Court Order To Sell, Mortgage, Or Lease Interests In Real Property.

501B.47 PETITION BY OWNER OF PRESENT OR FUTURE INTEREST FOR COURT ORDER TO SELL, MORTGAGE, OR LEASE INTERESTS IN REAL PROPERTY. Notwithstanding a contrary provision in the instrument creating the interests, when the ownership of real property situated in this state is divided into one or more possessory interests and one or more future interests, the owner of an interest may petition the district court for the county in which any of the real property is situated for an order directing that the real property or part of the real property be sold, mortgaged, or leased. If an owner is a minor or incapacitated person as defined in section 524.5-102, subdivision 6 or 10, or otherwise under conservatorship, the petition may be made on behalf of the owner by a custodian, conservator, or guardian. History:  1989 c 340 art 1 s 39; 2004 c 146 art 3 s 33
MN Stat § 501B.48 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.48 — When Petition May Be Granted.

501B.48 WHEN PETITION MAY BE GRANTED. Subdivision 1. Petition under section 501B.46.  The court to which a petition to sell, mortgage, or lease has been made under section 501B.46 may grant the petition, on terms it considers appropriate, if the court determines that: (1) if the interest in real property were owned in fee simple or absolute ownership by a single individual, a sale or mortgage of the interest would be desirable because total investment returns, including appreciation and the value of any use of the real property by trust beneficiaries, were inadequate; or (2) an order directing a sale or mortgage would be economically advantageous to the trust beneficiaries to whom trust income is distributable or may be distributed and would not be seriously disadvantageous to any trust beneficiary. The court to which a petition to lease has been made under section 501B.46 may grant the petition on terms it considers appropriate, even though the term of the lease may extend beyond the term of the trust, if the court determines that an order directing a lease would be economically advantageous to the trust beneficiaries to whom trust income is distributable or may be distributed and would not be seriously disadvantageous to any trust beneficiary. Subd. 2. Petition under section 501B.47.  The court to which a petition to sell or mortgage has been made under section 501B.47 may grant the petition on terms it considers appropriate if the court determines that: (1) were the real property held in trust for the owners of the possessory and future interests in the property, retention of the real property by the trustee without the sale or mortgage would be inconsistent with a trustee's common law duty to administer the trust impartially as between the holders of successive interests in income and principal; (2) if the interest in real property were owned in fee simple or absolute ownership by a single individual, a sale or mortgage of the interest would be desirable because total investment returns, including appreciation and the value of any use of the real property by possessory owners, were inadequate; or (3) an order directing a sale or mortgage would be economically advantageous to the owners of possessory interests in the real property and would not be seriously disadvantageous to the owner of any interest in the property. The court to which a petition to lease has been made under section 501B.47 may grant the petition on terms it considers appropriate, even though the term of the lease may extend beyond the duration of the possessory interests in the real property, if the court determines that an order directing a lease would be economically advantageous to the owners of possessory interests in the real property and would not be seriously disadvantageous to the owner of any interest in the property. History:   1989 c 340 art 1 s 40
MN Stat § 501B.49 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.49 — Notice Of Hearing.

501B.49 NOTICE OF HEARING. Subdivision 1. Hearing required. On the filing of a petition under section 501B.46 or 501B.47, the court shall, by order, fix a time and place for a hearing on the petition unless a hearing has been waived in writing. In the case of a petition under section 501B.46, each beneficiary of the trust then in being must join in the waiver. In the case of a petition under section 501B.47, each person in being who owns an interest in the real property must join in the waiver. Subd. 2. Notice. Notice of hearing must be given by publishing a copy of the order for hearing one time in a legal newspaper for the county in which the petition is filed at least 20 days before the date of the hearing, and by mailing copies of the order for hearing in the manner specified in this subdivision or in another manner ordered by the court. In the case of a petition under section 501B.46, mailed notice must be given by mailing a copy of the order for hearing to those beneficiaries of the trust then in being who are known to or reasonably ascertainable by the petitioner and, in the case of a beneficiary who is a minor or an incapacitated person as defined in section 524.5-102, subdivision 6 or 10, or otherwise under conservatorship, to the conservator or guardian, or if none is acting within the state, to the guardian ad litem of the beneficiary, at least 15 days before the date of the hearing. In the case of a petition under section 501B.47, mailed notice must be given by mailing a copy of the order for hearing to those persons owning an interest in the real property then in being who are known to or reasonably ascertainable by the petitioner and, in the case of a person who is a minor or an incapacitated person as defined in section 524.5-102, subdivision 6 or 10, or otherwise under conservatorship, to the conservator or guardian, or if none is acting within the state, to the guardian ad litem of the person, at least 15 days before the date of the hearing. History:  1989 c 340 art 1 s 41; 2004 c 146 art 3 s 34
MN Stat § 501B.50 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.50 — Representation Of Persons Who Are Unborn, Unascertained, Unknown, Or Minors Or Incapacitated Persons.

501B.50 REPRESENTATION OF PERSONS WHO ARE UNBORN, UNASCERTAINED, UNKNOWN, OR MINORS OR INCAPACITATED PERSONS. If an interested person is a minor or an incapacitated person as defined in section 524.5-102, subdivision 6 or 10, or otherwise under conservatorship, and does not have a guardian or conservator within the state, the court shall appoint a guardian ad litem for the person. If an interested person is unborn, unascertained, or a person whose identity or address is unknown to the petitioner, the court shall represent the person, but the court may, upon the application of the petitioner or another interested person or on its own motion, appoint a guardian ad litem to represent the person. History:  1989 c 340 art 1 s 42; 2004 c 146 art 3 s 35
MN Stat § 501B.51 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.51 — Order Upon Petition; Execution Of Transaction.

501B.51 ORDER UPON PETITION; EXECUTION OF TRANSACTION. Subdivision 1. Form of order; conclusiveness. At a hearing under section 501B.49, the court shall make an order it considers appropriate. If the petition is granted in whole or in part, the order must specify the real property to be sold, mortgaged, or leased and the terms and conditions on which the transaction is to be consummated. The order is final and conclusive as to all matters determined by it and binding in rem on all persons interested in the real property, whether their interests are vested or contingent, even though the person is a minor, incapacitated as defined in section 524.5-102, subdivision 6 or 10, or otherwise subject to conservatorship, unascertained, or not in being, except that appeal may be taken in the manner provided in the Rules of Appellate Procedure. Subd. 2. Execution of order. (a) In the case of a petition under section 501B.46, all transactions required by the order must be executed by the trustee. (b) In the case of a petition under section 501B.47, the court shall appoint a suitable person as receiver to act for the court in executing each transaction required by the order. Each required transaction must be executed by the receiver. History:  1989 c 340 art 1 s 43; 2004 c 146 art 3 s 36
MN Stat § 501B.52 (2021)
2021 Minnesota Statutes|Chapters 500 - 515B — Property And Property Interests|Chapter 501B — Charitable Trusts|Section 501B.52 — Report Of Agreement For Confirmation.

501B.52 REPORT OF AGREEMENT FOR CONFIRMATION. Before a sale, mortgage, or lease is made under an order described in section 501B.51, the trustee or receiver shall enter into an agreement for the sale, mortgage, or lease, subject to the approval of the court, and must report the agreement to the court under oath. At least 15 days before the hearing on the confirmation of the agreement, the trustee or receiver shall mail a copy of the agreement to each interested party to whom mailed notice was given under section 501B.49 and to any interested party who did not receive notice but appeared at the hearing on the petition. History:   1989 c 340 art 1 s 44