Section 424B.08 — Termination Of Prior Relief Associations.
424B.08 TERMINATION OF PRIOR RELIEF ASSOCIATIONS. Following the transfer of administration, records, special fund assets, and special fund liabilities from the prior relief associations to the subsequent volunteer firefighters relief association, the prior volunteer firefighters relief associations cease to exist as legal entities for any purpose. The subsequent relief association secretary shall notify the following […]
Section 424B.09 — Administrative Expenses.
424B.09 ADMINISTRATIVE EXPENSES. The payment of authorized administrative expenses of the subsequent volunteer firefighters relief association must be from the special fund of the subsequent volunteer firefighters relief association in accordance with section 424A.05, subdivision 3b, and as provided for in the bylaws of the subsequent volunteer firefighters relief association and approved by the board […]
Section 424B.10 — Consolidation; Benefits; Funding.
424B.10 CONSOLIDATION; BENEFITS; FUNDING. Subdivision 1. [Repealed, 2009 c 169 art 10 s 58] Subd. 1a. Applicability. This section applies when all of the volunteer firefighters’ relief associations involved in the consolidation are defined benefit relief associations as defined in section 424A.001, subdivision 1b. Subd. 1b. Benefits. (a) The successor relief association following the consolidation […]
Section 424B.11 — Consolidating Defined Contribution Relief Associations; Individual Accounts; Funding.
424B.11 CONSOLIDATING DEFINED CONTRIBUTION RELIEF ASSOCIATIONS; INDIVIDUAL ACCOUNTS; FUNDING. Subdivision 1. Applicability. This section applies when all of the volunteer firefighters relief associations involved in the consolidation are defined contribution relief associations as defined in section 424A.001, subdivision 1c. Subd. 2. Individual accounts. The successor relief association following the consolidation of two or more defined […]
Section 424B.12 — Mixed Consolidating Relief Associations; Benefit Plan; Funding.
424B.12 MIXED CONSOLIDATING RELIEF ASSOCIATIONS; BENEFIT PLAN; FUNDING. Subdivision 1. Applicability. This section applies where one or more of the volunteer firefighters relief associations involved in the consolidation are defined benefit relief associations as defined in section 424A.001, subdivision 1b, and one or more of the volunteer firefighters relief associations involved in the consolidation are […]
Section 424B.13 — Conversion Of Relief Association Defined Benefit Plan To Defined Contribution Plan.
424B.13 CONVERSION OF RELIEF ASSOCIATION DEFINED BENEFIT PLAN TO DEFINED CONTRIBUTION PLAN. Subdivision 1. Authority to initiate conversion. (a) The board of trustees of a defined benefit relief association may convert the defined benefit plan to a defined contribution plan in accordance with this section. (b) A conversion consists of: (1) termination of the defined […]
Section 424B.22 — Relief Association Dissolution And Retirement Plan Termination.
424B.22 RELIEF ASSOCIATION DISSOLUTION AND RETIREMENT PLAN TERMINATION. Subdivision 1. Application. (a) Notwithstanding any laws to the contrary, this section applies to: (1) the termination of a retirement plan established and administered by a relief association, whether or not the relief association is also dissolved or eliminated; and (2) the dissolution of a relief association […]
Section 424B.02 — Consolidation Authorized.
424B.02 CONSOLIDATION AUTHORIZED. Subdivision 1. Initiation. (a) With the approval of the governing body of each applicable municipality, two or more relief associations associated with fire departments serving contiguous fire districts may initiate the consolidation of the relief associations into a subsequent relief association. (b) Initiation of a consolidation action must occur through the proposal […]
Section 424B.03 — Subsequent Relief Association.
424B.03 SUBSEQUENT RELIEF ASSOCIATION. Subdivision 1. New relief association. If the subsequent relief association is a new volunteer firefighters relief association, the consolidated volunteer firefighters relief association must be incorporated under chapter 317A. The incorporators of the consolidated relief association must include at least one board member of each of the former volunteer firefighters relief […]
Section 424B.04 — Governance Of Consolidated Volunteer Firefighters Relief Association.
424B.04 GOVERNANCE OF CONSOLIDATED VOLUNTEER FIREFIGHTERS RELIEF ASSOCIATION. Subdivision 1. Board of trustees. The consolidated volunteer firefighters relief association is governed by a board of trustees as provided in section 424A.04, subdivision 1. Subd. 2. Composition of board. The board must have three officers, including a president, a secretary, and a treasurer. The membership of […]