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ARTICLE I <br />NPyYE <br />Section 1.1. Nance. The name of the association is the Hugo Firefighter's Relief <br />Association. <br />ARTICLE II <br />PURPOSE <br />Section 2.1. Purpose. This instrument constitutes the Bylaws of the Hugo Firefighter's <br />Relief Association, hereinafter referred to as "Association," adopted for the purpose of <br />regulating and managing the internal affairs of the corporation and shall serve as the <br />written pension plan for the relief association. The Association is a governmental entity <br />that receives and manages public money to provide retirement benefits for individuals <br />providing the governmental services of firefighting. The objectives of the plan shall be to <br />provide service pensions and ancillary benefits to members and dependants of the Hugo <br />Fire Department, hereinafter "Fire Department". All benefits issued by this association <br />shall be governed by these bylaws and Federal and State laws. <br />ARTICLE III <br />EF FECTW7ENESS <br />Section 3.1. Effectiveness: This document when approved by a majority of the <br />membership present and voting by roll call vote shall supersede any previous versions of <br />the Hugo Firefighter's Relief Associations bylaws, policies, or past precedence's set by <br />the membership, or the Board of Trustees. <br />ARTICLE IV <br />DEFINMONNS <br />Section 4.1. Surviving spouse. The term "surviving spouse" means the spouse of a <br />deceased member who was legally married to the member at the time of death <br />Section 4.2. Fiduciary responsibility. In the discharge of their respective duties, the <br />officers and trustees shall be held to the standard of care and all other statutory <br />requirements enumerated in Minn. Stat. § 356A. No trustee of the Association shall <br />cause the relief association to engage in a transaction, if the fiduciary knows or should <br />know that a transaction constitutes one of the following direct or indirect transactions. <br />(1) sale or exchange or leasing of any real property between the relief association and a <br />board member; <br />(2) lending of money or other extension of credit between the relief association and a <br />board member or member of the relief association; <br />(3) furnishing of goods, services, or facilities between the relief association and a board <br />member; or <br />