Minnesota Statutes 136F.81 – Transfer of Gifts
Current as of: 2023 | Check for updates
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A college or university that receives a gift or bequest that is intended for purposes performed by a foundation approved under section 136F.46 may transfer the money to its foundation, provided the money is used only for public purposes.
Terms Used In Minnesota Statutes 136F.81
- Bequest: Property gifted by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.