Proposed Changes To The Minnesota Business Corporation Act

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The Minnesota legislature is considering proposed changes to the Minnesota Business Corporation Act.  Among other things, the changes would:

  • Provide for pre-clearance of documents to be filed with the Minnesota Secretary of State.
  • Provide for dissenters’ rights in certain transactions where shareholders are eliminated in fractional share transactions.
  • Clarify the manner in which interest in dissenters’ rights actions is calculated.
  • Provide for cross-entity conversions with foreign entities.

You can find more information here.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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