Minnesota Statutes 572B.01 – Definitions
In sections 572B.01 to 572B.31:
Terms Used In Minnesota Statutes 572B.01
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
(1) “Arbitration organization” means a neutral association, agency, board, commission, or other entity that initiates, sponsors, or administers arbitration proceedings or is involved in the appointment of arbitrators.
(2) “Arbitrator” means an individual appointed to render an award in a controversy between persons who are parties to an agreement to arbitrate.
(3) “Authenticate” means:
(A) to sign; or
(B) to execute or adopt a record by attaching to or logically associating with the record, an electronic sound, symbol, or process with the intent to sign the record.
(4) “Court” means a court of competent jurisdiction in this state.
(5) “Knowledge” means actual knowledge.
(6) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, or government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity.
(7) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.