Subdivision 1.Consent required.

A plan of domestication must be consented to:

Terms Used In Minnesota Statutes 321.1116

  • 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
  • Statute: A law passed by a legislature.

(1) by all the partners, subject to section 321.1119 if the domesticating organization is a limited partnership; and

(2) as provided in the domesticating organization’s governing statute, if the organization is a foreign limited partnership.

Subd. 2.Amendment of plan or abandonment of domestication.

Subject to any contractual rights, after a domestication is approved, and at any time before articles of domestication are filed with the secretary of state under section 321.1117, a domesticating limited partnership may amend the plan or abandon the domestication:

(1) as provided in the plan; or

(2) except as otherwise prohibited in the plan, by the same consent as was required to approve the plan.