Changes to the Minnesota Business Corporation Act
The Minnesota legislature has passed, and Governor Dayton has signed into law, changes to the Minnesota Business Corporation Act. Among other things, the changes would:
- Provide for pre-clearance of documents to be filed with the Minnesota Secretary of State.
- Provide for dissenters’ rights in certain transactions where shareholders are eliminated in fractional share transactions.
- Clarify the manner in which interest in dissenters’ rights actions is calculated.
- Provide for cross-entity conversions with foreign entities.
The changes will be effective August 1, 2014. Learn more about the changes to the Minnesota Business Corporation Act by downloading a PDF of our comprehensive analysis.