CORPORATIONS FOR RELIGIOUS PURPOSES.

317A.909 CORPORATIONS FOR RELIGIOUS PURPOSES. § Subdivision 1.Benefits for members. When authorized by its members or otherwise, a corporation formed for a religious purpose may provide directly or through a church benefits board for: (1) support and payment of benefits to its ministers, teachers, employees, or functionaries and to the ministers, teachers, employees, or functionaries of a nonprofit organization affiliated with it or under its jurisdiction; (2) payment of benefits to the surviving spouses, children, dependents, or other beneficiaries of the persons named in clause (1); (3) collection of contributions and other payments; or (4) creation, maintenance, investment, management, and disbursement of necessary endowment, reserve, and other funds for these purposes, including a trust fund or corporation that funds a "church plan" as defined in section 414(e) of the Internal Revenue Code of 1986, as amended through December 31, 1988. § Subd. 2.Insurance laws not applicable. The insurance laws of this state do not apply to the operations of a corporation under subdivision 1. § Subd. 3.Property exempt from taxation. Except for property leased or used for profit, personal and real property that a religious corporation necessarily uses for a religious purpose is exempt from taxation. § Subd. 4. [Repealed, 2005 c 10 art 2 s 5] § Subd. 5.Church benefits board. A "church benefits board" is an organization described in section 414(e)(3)(A) of the Internal Revenue Code of 1986, as amended through December 31, 1988, whether a civil law corporation or otherwise, the principal purpose or function of which is the administration or funding of a plan or program for the provision of retirement benefits or welfare benefits for the employees of a church or a convention or association of churches, if the organization is controlled by or associated with a church or a convention or association of churches. § Subd. 6.Church benefits board as trustee. A church benefits board may act as trustee under a lawful trust and may act as agent for the performance of a lawful act relating to the purposes of the trust. History: 1989 c 304 s 128; 2009 c 43 s 1