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Chapter 317A
Section 317A.671
Recent History
- 2017 317A.671 Amended 2017 c 17 s 10
- 1997 317A.671 Amended 1997 c 222 s 43
This is an historical version of this statute chapter. Also view the most recent published version.
317A.671 CERTAIN ASSETS NOT TO BE DIVERTED.
Except as provided in section 501B.31, when a corporation dissolves, merges, substantially
changes the use or purposes for which it will use its assets, or consolidates, transfers its assets,
or grants a mortgage or other security interest in its assets, assets of the corporation or a
constituent corporation, and assets subsequently received by a single corporation after a merger or
consolidation, may not be diverted from the uses and purposes for which the assets have been
received and held, or from the uses and purposes expressed or intended by the original donor.
History: 1989 c 304 s 93; 1989 c 340 art 2 s 9; 1997 c 222 s 43
Except as provided in section 501B.31, when a corporation dissolves, merges, substantially
changes the use or purposes for which it will use its assets, or consolidates, transfers its assets,
or grants a mortgage or other security interest in its assets, assets of the corporation or a
constituent corporation, and assets subsequently received by a single corporation after a merger or
consolidation, may not be diverted from the uses and purposes for which the assets have been
received and held, or from the uses and purposes expressed or intended by the original donor.
History: 1989 c 304 s 93; 1989 c 340 art 2 s 9; 1997 c 222 s 43
Official Publication of the State of Minnesota
Revisor of Statutes