Minnesota Statutes 308A.011 – Use of Term Cooperative Restricted
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Subdivision 1.Only business subject to this chapter may use term cooperative.
(a) A corporation or association organized in this state may not use the term “cooperative” as part of its corporate or business name or title, or to represent itself as a cooperative, unless the corporation or association has complied with and is subject to this chapter or has incorporated under other laws of this state authorizing incorporation of business on a cooperative plan.
Attorney's Note
Under the Minnesota Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Misdemeanor | up to 90 days | up to $1,000 |
Terms Used In Minnesota Statutes 308A.011
- 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.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
(b) A cooperative formed pursuant to chapter 515B is subject to this chapter, except that in the event of a conflict between chapter 515B and this chapter, chapter 515B is controlling.
Subd. 2.Penalty for misuse of term cooperative.
A corporation or association is guilty of a misdemeanor that violates subdivision 1.