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Minnesota · Through 2025 Minnesota Statutes

Minn. Stat. § 302A.505: ADVANCES.

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Where this section sits in the code
  1. BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
  2. CHAPTER 302A. BUSINESS CORPORATIONS
  3. LOANS; OBLIGATIONS; DISTRIBUTIONS

A corporation may, without a vote of the directors, advance money to its directors, officers, or employees to cover expenses that can reasonably be anticipated to be incurred by them in the performance of their duties and for which they would be entitled to reimbursement in the absence of an advance.

Collected 2026-09-02T22:10:41Z. Source file · JSON

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