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legal-2026.07.26-907

  1. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.1014 - EFFECT OF DOMESTICATION

    unknown Act or statute Document — Minnesota Statutes § 322C.1014 - EFFECT OF DOMESTICATION

    Minnesota Statutes § 322C.1014 - EFFECT OF DOMESTICATION

    § Subdivision 1.Effect on domesticating company. When a domestication takes effect: (1) the domesticated company is for all purposes the company that existed before the domestication; (2) all property owned by the domesticating company remains vested in the domesticated company; (3) all debts, obligations, or other liabilities of the domesticating company co

    Topics: domestication, filings, foreign company, limited liability company

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  2. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 66A.16 - GUARANTY FUNDS

    unknown Act or statute Document — Minnesota Statutes § 66A.16 - GUARANTY FUNDS

    Minnesota Statutes § 66A.16 - GUARANTY FUNDS

    § Subdivision 1.Mutual fire insurance companies. A mutual fire insurance company may be formed with, or an existing fire insurance company may establish, a guaranty fund divided into certificates of $10 each, or multiples thereof, and this guaranty fund shall be invested in the same manner as is provided for the investment of capital stock of insurance compa

    Topics: director governance, guaranty funds, liquidation, mutual insurance companies

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  3. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 66A.40 - MUTUAL INSURANCE HOLDING COMPANIES

    unknown Act or statute Document — Minnesota Statutes § 66A.40 - MUTUAL INSURANCE HOLDING COMPANIES

    Minnesota Statutes § 66A.40 - MUTUAL INSURANCE HOLDING COMPANIES

    § Subdivision 1.Formation. (a) A domestic mutual insurance company, upon approval of the commissioner, may reorganize by forming an insurance holding company based upon a mutual plan and continuing the corporate existence of the reorganizing insurance company as a stock insurance company. The commissioner, if satisfied that the interests of the policyholders

    Topics: commissioner approval, conversion, merger, mutual insurance holding companies

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  4. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.1013 - FILINGS REQUIRED FOR DOMESTICATION; EFFECTIVE DATE

    unknown Act or statute Document — Minnesota Statutes § 322C.1013 - FILINGS REQUIRED FOR DOMESTICATION; EFFECTIVE DATE

    Minnesota Statutes § 322C.1013 - FILINGS REQUIRED FOR DOMESTICATION; EFFECTIVE DATE

    § Subdivision 1.Articles of domestication. After a plan of domestication is approved, a domesticating company shall file with the secretary of state articles of domestication, together with a total fee of $60, which articles of domestication must include: (1) a statement, as the case may be, that the company has been domesticated from or into another jurisdi

    Topics: domestication, fees, state filings

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  5. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 66A.07 - MEMBERSHIP; MEETINGS; NOTICES; VOTING

    unknown Notice Document — Minnesota Statutes § 66A.07 - MEMBERSHIP; MEETINGS; NOTICES; VOTING

    Minnesota Statutes § 66A.07 - MEMBERSHIP; MEETINGS; NOTICES; VOTING

    § Subdivision 1.Property/casualty companies. Every policyholder in a mutual insurance company, other than a life insurance company, shall be a member thereof while the policy is in force, entitled to one vote for each policy held, and notified of the time and place of holding its meetings either personally or by imprint upon the front or back of every policy

    Topics: meetings and notices, membership, proxies, quorum

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  6. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 11A.244 - INVESTMENT IN IRAN

    unknown Act or statute Document — Minnesota Statutes § 11A.244 - INVESTMENT IN IRAN

    Minnesota Statutes § 11A.244 - INVESTMENT IN IRAN

    en them in this subdivision. (b) "Active business operations" means all business operations that are not inactive business operations. (c) "Company" means any sole proprietorship, organization, association, corporation, partnership, joint venture, limited partnership, limited liability partnership, limited liability company, or other entity or business assoc

    Topics: divestment, portfolio management, reporting

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  7. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 168A.1503 - REQUIREMENTS UPON UNPAID INSURANCE VEHICLE CLAIM

    unknown Act or statute Document — Minnesota Statutes § 168A.1503 - REQUIREMENTS UPON UNPAID INSURANCE VEHICLE CLAIM

    Minnesota Statutes § 168A.1503 - REQUIREMENTS UPON UNPAID INSURANCE VEHICLE CLAIM

    § Subdivision 1.Definition. For purposes of this section, "salvage vehicle auction company" or "auction company" means a business, organization, or individual that sells salvage vehicles on behalf of insurers. § Subd. 2.Notice to auction company. (a) If an insurance company licensed to conduct business in Minnesota requests an auction company to take possess

    Topics: auction companies, certificate of title, notice requirements, salvage vehicles

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  8. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 60A.171 - REHABILITATION AND CANCELLATION OF INDEPENDENT AGENT CONTRACTS BY INSURANCE COMPANIES

    unknown Act or statute Document — Minnesota Statutes § 60A.171 - REHABILITATION AND CANCELLATION OF INDEPENDENT AGENT CONTRACTS BY INSURANCE COMPANIES

    Minnesota Statutes § 60A.171 - REHABILITATION AND CANCELLATION OF INDEPENDENT AGENT CONTRACTS BY INSURANCE COMPANIES

    rmination rights and obligations. (a) After an agency contractual relationship has been in effect for a period of three years, an insurance company writing fire or casualty loss insurance in this state may not terminate the agency contractual relationship with any appointed agent unless the company has provided written notice of termination to the agent at l

    Topics: agency contracts, cancellation, renewal, termination

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  9. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 48A.03 - CAPITAL AND SURPLUS REQUIREMENTS OF TRUST COMPANIES

    unknown Act or statute Document — Minnesota Statutes § 48A.03 - CAPITAL AND SURPLUS REQUIREMENTS OF TRUST COMPANIES

    Minnesota Statutes § 48A.03 - CAPITAL AND SURPLUS REQUIREMENTS OF TRUST COMPANIES

    § Subdivision 1.Required amount. The capital of a trust company organized under this chapter must be not less than $500,000. The trust company must also provide a surplus of at least 20 percent of its capital in addition to the capital amounts required by this section. The capital or the surplus must not be reduced without the approval of the commissioner of

    Topics: capital requirements, securities deposits, surplus requirements, trust companies

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  10. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.1011 - DOMESTICATION

    unknown Act or statute Document — Minnesota Statutes § 322C.1011 - DOMESTICATION

    Minnesota Statutes § 322C.1011 - DOMESTICATION

    § Subdivision 1.Foreign limited liability company. A foreign limited liability company may become a limited liability company pursuant to this section, sections 322C.1011 to 322C.1013, and a plan of domestication if: (1) the foreign limited liability company's governing statute authorizes the domestication, whether described by the laws of the foreign jurisd

    Topics: domestication, limited liability companies

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  11. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 116O.115 - MADE IN MINNESOTA PROGRAM

    unknown Act or statute Document — Minnesota Statutes § 116O.115 - MADE IN MINNESOTA PROGRAM

    Minnesota Statutes § 116O.115 - MADE IN MINNESOTA PROGRAM

    etween standard market pricing for technology and business improvements and what qualified companies can afford to pay. § Subd. 2.Qualified company. A company is qualified to receive assistance under the Made in Minnesota program if the company is a manufacturing company or a manufacturing-related service company that employs 250 or fewer full-time equivalen

    Topics: application requirements, funding limits, grant eligibility, reporting

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  12. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.0409 - STANDARDS OF CONDUCT FOR MEMBERS, MANAGERS, AND GOVERNORS

    unknown Act or statute Document — Minnesota Statutes § 322C.0409 - STANDARDS OF CONDUCT FOR MEMBERS, MANAGERS, AND GOVERNORS

    Minnesota Statutes § 322C.0409 - STANDARDS OF CONDUCT FOR MEMBERS, MANAGERS, AND GOVERNORS

    § Subdivision 1.Scope of duties. A member of a member-managed limited liability company owes to the company and, subject to section 322C.0901, subdivision 2, the other members the fiduciary duties of loyalty and care stated in subdivisions 2 and 3. § Subd. 2.Duty of loyalty. The duty of loyalty of a member in a member-managed limited liability company includ

    Topics: board-managed governance, limited liability companies, manager-managed governance, member duties

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  13. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 67A.01 - NUMBER OF MEMBERS REQUIRED, PROPERTY AND TERRITORY

    unknown Act or statute Document — Minnesota Statutes § 67A.01 - NUMBER OF MEMBERS REQUIRED, PROPERTY AND TERRITORY

    Minnesota Statutes § 67A.01 - NUMBER OF MEMBERS REQUIRED, PROPERTY AND TERRITORY

    surance against loss or damage by the perils listed in section 67A.13. § Subd. 2.Authorized territory. (a) A township mutual fire insurance company may be authorized to write business in up to nine adjoining counties in the aggregate at the same time. If policyholder surplus is at least $500,000 as reported in the company's last annual financial statement fi

    Topics: merger reporting, mutual insurance, territorial authorization

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  14. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.0702 - WINDING UP

    unknown Act or statute Document — Minnesota Statutes § 322C.0702 - WINDING UP

    Minnesota Statutes § 322C.0702 - WINDING UP

    § Subdivision 1.Winding up required. A dissolved limited liability company shall wind up its activities, and the company continues after dissolution only for the purpose of winding up. § Subd. 2.Winding up process. In winding up its activities, a limited liability company: (1) shall discharge the company's debts, obligations, or other liabilities, settle and

    Topics: dissolution, limited liability company, winding up

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  15. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.0410 - RIGHT OF MEMBERS, MANAGERS, GOVERNORS, AND DISSOCIATED MEMBERS TO INFORMATION

    unknown Act or statute Document — Minnesota Statutes § 322C.0410 - RIGHT OF MEMBERS, MANAGERS, GOVERNORS, AND DISSOCIATED MEMBERS TO INFORMATION

    Minnesota Statutes § 322C.0410 - RIGHT OF MEMBERS, MANAGERS, GOVERNORS, AND DISSOCIATED MEMBERS TO INFORMATION

    § Subdivision 1.Member-managed company rules. In a member-managed limited liability company, the following rules apply: (1) On reasonable notice, a member may inspect and copy during regular business hours, at a reasonable location specified by the company, any record maintained by the company regarding the company's activities, financial condition, and othe

    Topics: information rights, limited liability companies

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  16. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.1204 - APPLICATION TO EXISTING RELATIONSHIPS

    unknown Act or statute Document — Minnesota Statutes § 322C.1204 - APPLICATION TO EXISTING RELATIONSHIPS

    Minnesota Statutes § 322C.1204 - APPLICATION TO EXISTING RELATIONSHIPS

    § Subdivision 1.Before January 1, 2018. (a) On or after August 1, 2015, a limited liability company may not be formed under chapter 322B. (b) Before January 1, 2018, this chapter governs only: (1) a limited liability company formed on or after August 1, 2015; and (2) except as otherwise provided in subdivision 3, a limited liability company formed before Aug

    Topics: LLC governance, applicability of chapter provisions, recordkeeping

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  17. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 61A.284 - INVESTMENTS; CAPITAL STOCK OF OTHER INSURANCE COMPANIES

    unknown Act or statute Document — Minnesota Statutes § 61A.284 - INVESTMENTS; CAPITAL STOCK OF OTHER INSURANCE COMPANIES

    Minnesota Statutes § 61A.284 - INVESTMENTS; CAPITAL STOCK OF OTHER INSURANCE COMPANIES

    § Subdivision 1.Purchase of insurance company. A domestic life insurance company may acquire and hold all or part of the capital stock of another insurance company whether or not in the same line of insurance for cash or through the issuance of its own stock in payment of all or part of the purchase price. The limits contained in the other investment provisi

    Topics: capital stock, health maintenance organizations, investments, subsidiaries

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  18. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 47.23 - USE OF CERTAIN WORDS PERMITTED

    unknown Act or statute Document — Minnesota Statutes § 47.23 - USE OF CERTAIN WORDS PERMITTED

    Minnesota Statutes § 47.23 - USE OF CERTAIN WORDS PERMITTED

    y other laws of this state, no individual, partnership, unincorporated association, or corporation, other than a savings bank, safe deposit company, or trust company, holding an effective certificate of authority or license issued by the commissioner of commerce and subject to and complying with all of the provisions of law relating to such savings banks, sa

    Topics: savings deposits, trust companies, use of banking-related words

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  19. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 322C.1101 - NONPROFIT LIMITED LIABILITY COMPANIES

    unknown Act or statute Document — Minnesota Statutes § 322C.1101 - NONPROFIT LIMITED LIABILITY COMPANIES

    Minnesota Statutes § 322C.1101 - NONPROFIT LIMITED LIABILITY COMPANIES

    § Subdivision 1.Status as nonprofit limited liability company. A limited liability company is a nonprofit limited liability company if it is organized under or governed by this chapter and its articles of organization state that it is a nonprofit limited liability company governed by this section. The status of a nonprofit limited liability company under thi

    Topics: attorney general authority, distributions, entity governance, membership restrictions

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  20. Provision text match · United States — Minnesota · en

    Minnesota Statutes § 66A.41 - MUTUAL COMPANY CONVERSION TO STOCK COMPANY

    unknown Act or statute Document — Minnesota Statutes § 66A.41 - MUTUAL COMPANY CONVERSION TO STOCK COMPANY

    Minnesota Statutes § 66A.41 - MUTUAL COMPANY CONVERSION TO STOCK COMPANY

    on, the terms in this subdivision have the meanings given them. (b) "Converting mutual insurer" means a Minnesota domestic mutual insurance company seeking to reorganize according to this section. (c) "Converting mutual holding company" means a Minnesota domestic mutual insurance holding company seeking to reorganize according to this section. (d) "Convertin

    Topics: insurance company conversion, member voting, mutual company conversion, regulatory approval

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