Minnesota Statutes 302A.731 – Revocation of Dissolution Proceedings
Subdivision 1.Generally.
Dissolution proceedings commenced pursuant to section 302A.721 may be revoked prior to filing of articles of dissolution.
Subd. 2.Notice to shareholders; approval.
Terms Used In Minnesota Statutes 302A.731
- 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.
- Majority: means with respect to an individual the period of time after the individual reaches the age of 18. See Minnesota Statutes 645.451
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
Terms Used In Minnesota Statutes 302A.731
- 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.
- Majority: means with respect to an individual the period of time after the individual reaches the age of 18. See Minnesota Statutes 645.451
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
Written notice shall be given to every shareholder entitled to vote at a shareholders’ meeting within the time and in the manner provided in section 302A.435 for notice of meetings of shareholders and shall state that a purpose of the meeting is to consider the advisability of revoking the dissolution proceedings. The proposed revocation shall be submitted to the shareholders at the meeting. If the proposed revocation is approved at a meeting by the affirmative vote of the holders of a majority of the voting power of all shares entitled to vote, the dissolution proceedings are revoked.
Subd. 3.Effective date; effect.
Revocation of dissolution proceedings is effective when a notice of revocation is filed with the secretary of state. The corporation may thereafter resume business.