Minnesota Statutes 321.1107 – Action On Plan of Merger by Constituent Limited Partnership
Current as of: 2023 | Check for updates
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(a) Subject to section 321.1110, a plan of merger must be consented to by all the partners of a constituent limited partnership.
Terms Used In Minnesota Statutes 321.1107
- 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.
(b) Subject to section 321.1110 and any contractual rights, after a merger is approved, and at any time before a filing is made under section 321.1108, a constituent limited partnership may amend the plan or abandon the planned merger:
(1) as provided in the plan; and
(2) except as prohibited by the plan, with the same consent as was required to approve the plan.