Minnesota § 315.47 - PROPERTY RIGHTS
Full text of Minnesota Minnesota Statutes § 315.47 — PROPERTY RIGHTS, with citation guidance and answers to common questions.
§ 315.47. PROPERTY RIGHTS
The board shall control the real property of the association and other property its board of directors or trustees may designate. Real property belonging to the association must not be conveyed, disposed of, or mortgaged without the consent of the board, and it is not liable for a debt or obligation of the association unless the debt is contracted with its approval. Property and its income under the control of the board must be devoted only to the purposes of the association. So long as the directors and managers of the association spend it for these purposes, the income must be paid over to the treasurer of the board of directors or managers.
History:
(8006) RL s 3167; 1985 c 265 art 5 s 1
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 315.47
What does Minnesota Statutes § 315.47 cover?
Section 315.47 ("PROPERTY RIGHTS") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 315.47?
A common citation format is "Minnesota Statutes § 315.47" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 315.47 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.