SF 2852

Introduction - 91st Legislature (2019 - 2020)

Posted on 04/30/2019 09:06 a.m.

A bill for an act
relating to corporations; requiring corporations to act in the public interest and for
the general benefit; proposing coding for new law in Minnesota Statutes, chapter
300.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [300.655] TO ACT IN PUBLIC INTEREST.
new text end

new text begin A corporation organized under the laws of this state or a corporation authorized to do
business in this state shall conduct its activities in this state in a manner consistent with the
public interest and for the general benefit. The public interest and general benefit require
that a corporation make a corporate decision by considering, at a minimum, the effect of
the decision on:
new text end

new text begin (1) the environment;
new text end

new text begin (2) competition in price and quality;
new text end

new text begin (3) the health, safety, and nutrition of customers, employees, and the public; and
new text end

new text begin (4) justice and on the disposition of citizens to break or conform to the law.
new text end