Minnesota’s Merger, Conversion, and Domestication of Business Entity Laws Revised
On April 30 2018, Minnesota Governor Mark Dayton signed into law H.F. No. 2764 as Session Laws Chapter No. 103 (the “Act”). Previously, the Act was unanimously approved by both the Minnesota House and Senate. The adoption of the Act, like the Revised Minnesota Limited Liability Company Act, brings Minnesota business law more in line […]
Minnesota Operating Agreements: Previously Important, Now Essential for Minnesota LLCs
Under the Minnesota Revised Uniform Limited Liability Company Act (“Minnesota Revised LLC Act”), which applies to all Minnesota limited liability companies as of January 1, 2018, it is recommended that a Minnesota limited liability company enact an operating agreement. Under the Minnesota Revised LLC Act, failure to implement an operating agreement can have significant negative […]