Minnesota Statutes 315.42 – Tax Exempt; No Streets Through Property
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Property necessarily used by such a corporation, and not leased or used for profit, is exempt from taxation. No roads or streets shall be laid through the property without the consent of the corporation’s governing board.
Terms Used In Minnesota Statutes 315.42
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.