501B.35 DEFINITIONS.

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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

History: History: 1989 c 340 art 1 s 27; 1997 c 222 s 57