Minnesota Statutes 304A.011 – Application and Effect of Chapter
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Subdivision 1.General rule.
This chapter applies to all public benefit corporations.
Subd. 2.Laws applicable.
Terms Used In Minnesota Statutes 304A.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.
- Statute: A law passed by a legislature.
Terms Used In Minnesota Statutes 304A.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.
- Statute: A law passed by a legislature.
Chapter 302A applies to all public benefit corporations and all statutes and rules of law that apply to a corporation formed under chapter 302A also apply to a public benefit corporation. If chapter 302A conflicts with sections 304A.001 to 304A.301, sections 304A.001 to 304A.301 govern. The chapter does not affect a statute or rule of law that applies to a corporation formed under chapter 302A that is not a public benefit corporation.
Subd. 3.Chapter not to be varied.
A provision of the articles, shareholder control agreement, or bylaws of a public benefit corporation may not limit, be inconsistent with, or supersede a provision of this chapter.