Minnesota Statutes 64B.12 – Institutions
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A society may create, maintain, and operate, or may establish organizations to operate, not for profit institutions to further the purposes permitted by section 64B.05, subdivision 1, clause (2). The institutions may furnish services free or at a reasonable charge. Any real or personal property owned, held, or leased by the society for this purpose shall be reported in every annual statement.
Terms Used In Minnesota Statutes 64B.12
- Personal property: All property that is not real property.