Minnesota Statutes 308A.305 – Number of Directors
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The board must have at least five directors, except a cooperative housing corporation as defined in United States Code, title 26, § 216, subsection (b)(1), must have at least three directors who are members of the association.
Terms Used In Minnesota Statutes 308A.305
- 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.