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Minnesota · Through 2025 Minnesota Statutes

Minn. Stat. § 322C.1015: RESTRICTIONS ON APPROVAL OF MERGERS, EXCHANGES, CONVERSIONS, AND DOMESTICATIONS.

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Where this section sits in the code
  1. BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS
  2. CHAPTER 322C. MINNESOTA REVISED UNIFORM LIMITED LIABILITY COMPANY
  3. 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

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