Minnesota Statutes 424A.07 – Nonprofit Firefighting Corporations; Establishment of Relief Associations
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Before paying any service pensions or retirement benefits under section 424A.02 or before becoming entitled to receive any amounts of fire state aid upon transmittal from a contracting municipality under section 477B.04, subdivision 3, an independent nonprofit firefighting corporation shall establish a volunteer firefighters relief association governed by this chapter.
Terms Used In Minnesota Statutes 424A.07
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Municipality: means a city or township which has established a fire department with which the relief association is directly associated, a city or township which has entered into a contract with the independent nonprofit firefighting corporation of which the relief association is directly associated, or a city or township that has entered into a contract with a joint powers entity established under section 471. See Minnesota Statutes 424A.001
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- volunteer firefighters relief association: means a volunteer firefighters relief association or a volunteer firefighters division or account of a partially salaried and partially volunteer firefighters relief association that is:
(1) organized and incorporated as a nonprofit corporation to provide retirement benefits to volunteer firefighters under chapter 317A and any laws of the state;
(2) governed by this chapter and sections 424A. See Minnesota Statutes 424A.001