To receive funds and property, to invest and reinvest the same, and to disburse and distribute the same, as voluntary, gratuitous and charitable gifts and contributions solely to or for the benefit of:
A. Spouses, parents and/or significant others living in a family relationship, and surviving minor dependents of police officers, firefighters, highway patrol officers, sheriffs, sheriff's deputies, and any other emergency service personnel (while in the line of duty performing the emergency service duties of a similar nature to the duties of a police officer or firefighter) who have lost their lives in the employ of the State of Minnesota, or a political subdivision thereof:
B. Spouses, significant others and/or minor dependents of persons, enumerated in A above, who have become physically disabled or incapacitated during the performance of the duties described in A above:
C. Spouses, significant others and/or minor dependents of members of the Minnesota National Guard who have lost their lives or become physically disabled in the line of duty while officially activated for police, disaster or other civil duty;
D. Individuals while serving under a Mutual Aid Compact within the boundaries of Minnesota who lose their lives or become disabled while performing the duties specified in A or above.
Provided, however, that the selection, from the classes above mentioned, of the recipients of such gifts and contributions, and the determination of the amount thereof, shall rest in the absolute discretion of the Board of Directors of the corporation, and nothing contained herein shall vest any person or persons with a right to benefits without the approval of the Board of Directors.