Current through Register Vol. 49, No. 8, August 19, 2024
Section 501C.0110 - OTHERS TREATED AS QUALIFIED BENEFICIARIES(a) Whenever notice to qualified beneficiaries of a trust is required under this chapter, the trustee must also give notice to any other beneficiary who has sent the trustee a request for notice.(b) A charitable organization expressly designated to receive distributions under the terms of a charitable trust has the rights of a qualified beneficiary under this chapter if the charitable organization, on the date the charitable organization's qualification is being determined: (1) is a distributee or permissible distributee of trust income or principal;(2) would be a distributee or permissible distributee of trust income or principal upon the termination of the interests of other distributees or permissible distributees then receiving or eligible to receive distributions; or(3) would be a distributee or permissible distributee of trust income or principal if the trust terminated on that date.(c) A person appointed to enforce a trust created for the care of an animal or another noncharitable purpose as provided in section 501C.0408 or 501C.0409 has the rights of a qualified beneficiary under this chapter.(d) The attorney general of this state has the rights of a qualified beneficiary with respect to a charitable trust having its principal place of administration in this state.2015 c 5 art 1 s 10; 2016 c 135 art 1 s 1
Amended by 2016 Minn. Laws, ch. 135,s 1-1, eff. 8/1/2016.Added by 2015 Minn. Laws, ch. 5,s 1-10, eff. 1/1/2016.