2007 Minnesota Statutes

144E.42 COOPER/SAMS VOLUNTEER AMBULANCE TRUST; TRUST ACCOUNT.
    Subdivision 1. Trust. There is established the Cooper/Sams volunteer ambulance trust.
    Subd. 2. Trust account. (a) There is established in the general fund the Cooper/Sams
volunteer ambulance trust account and the Cooper/Sams volunteer ambulance award and account.
(b) The trust account must be credited with:
(1) general fund appropriations for that purpose;
(2) transfers from the Cooper/Sams volunteer ambulance award and account; and
(3) investment earnings on those accumulated proceeds. The assets and income of the trust
account must be held and managed by the commissioner of finance and the State Board of
Investment for the benefit of the state of Minnesota and its general creditors.
(c) The Cooper/Sams volunteer ambulance account must be credited with transfers from
the excess police state-aid holding account established in section 69.021, subdivision 11, any
per-year-of-service allocation under section 144E.45, subdivision 2, paragraph (c), that was
not made for an individual, and investment earnings on those accumulated proceeds. The
Cooper/Sams volunteer ambulance account must be managed by the commissioner of finance and
the State Board of Investment. From the Cooper/Sams volunteer ambulance account to the trust
account there must be transferred to the Cooper/Sams volunteer ambulance trust account, as the
Cooper/Sams volunteer ambulance account balance permits, the following amounts:
(1) an amount equal to any general fund appropriation to the Cooper/Sams volunteer
ambulance trust account for that fiscal year; and
(2) an amount equal to the percentage of the remaining balance in the account after the
deduction of the amount under clause (1), as specified for the applicable fiscal year:

Fiscal year

Percentage

	1995	20
	1996	40
	1997	50
	1998	60
	1999	70
	2000	80
	2001	90
	2002 and thereafter	100

    Subd. 3. Priority of claims. The state of Minnesota intends that this program, trust, and
trust account not constitute a separate fund for any legal purpose, including the federal Internal
Revenue Code, as amended, and the federal Employee Retirement Income Security Act of 1974,
as amended. Qualified ambulance service personnel have only an unsecured promise of the state
of Minnesota to pay a longevity award upon meeting entitlement requirements set forth in section
144E.46, and qualified ambulance service personnel meeting those entitlement requirements have
the status of general unsecured creditors with respect to the Cooper/Sams volunteer ambulance
award, if and when awarded.
History: 1Sp1993 c 1 art 9 s 56; 1994 c 632 art 3 s 50; 1996 c 390 s 31; 1997 c 199
s 14; 2007 c 11 s 1