Minn. Stat. § 322C.1015: RESTRICTIONS ON APPROVAL OF MERGERS, EXCHANGES, CONVERSIONS, AND DOMESTICATIONS.
Where this section sits in the code
- BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
- CHAPTER 322C. MINNESOTA REVISED UNIFORM LIMITED LIABILITY COMPANY
- MERGER, CONVERSION, AND DOMESTICATION
Subdivision 1. Personal liability of member.
If a member of a constituent, converting, or domesticating limited liability company will have personal liability with respect to a surviving, constituent, converted, or domesticated organization, approval or amendment of a plan of merger, exchange, conversion, or domestication is ineffective without the consent of the member, unless:
(1) the company's operating agreement provides for approval of a merger, exchange, conversion, or domestication with the consent of fewer than all the members; and
(2) the member has consented to the provision of the operating agreement.
Subd. 2. Consent.
A member does not give the consent required by subdivision 1 merely by consenting to a provision of the operating agreement that permits the operating agreement to be amended with the consent of fewer than all the members.
Collected 2026-09-02T22:10:42Z. Source file · JSON