Changes will be made to regulations on the management and investment standards for entities holding funds for charitable purposes.
A new law signed by Gov. Tim Pawlenty April 10, adopts language recommended by the National Conference of Commissioners on Uniform State Laws and repeals the state’s current version of the Uniform Prudent Management of Institutional Funds Act, which was enacted in 1973.
Specifically, the law focuses on supervision and investments in institutional funds, appropriation of endowment funds, compliance review and electronic signatures.
Sponsored by Rep. Melissa Hortman (DFL-Brooklyn Park) and Sen. Linda Scheid (DFL-Brooklyn Park), the law is effective Aug. 1, 2008.
HF1499*/SF1406/CH188
Minnesota Index
Figures and statistics on nonprofits in Minnesota
(view full story)
Published 4/25/2008
First Reading: A roll of the dice
Pair of bills seek to determine whose life (insurance policy) is it anyway?
(view full story)
Published 4/18/2008
At Issue: Pawlenty of plans
Governor offers lots of betterment ideas in State of the State address.
(view full story)
Published 2/15/2008