Legislative Session number- 83

Bill Name: HF0984

hf984THIRD ENGROSSMENTMinnesota Cooperative Associations Act adopted authorizing
businesses+ to organize as cooperative associations.ARTICLE 1�MINNESOTA
COOPERATIVE ASSOCIATIONS ACTSection 1: Act titled.Sec. 2: Terms defined.Sec.
3-8: General provisions detailed.Sec. 9-21: Cooperative organization
detailed.Sec. 22-37: Directors and officers regulations detailedSec. 38-53:
Member regulations provided.Sec. 54-59: Membership interest regulations
detailed.Sec. 60-67: Contributions, allocations, and distributions regulations+
detailed.Sec. 68-70: Merger and consolidation regulations detailed.Sec. 71-86:
Cooperative dissolution procedures detailed.ARTICLE 2�SECURITIES;
CROSS-REFERENCESSection 1: Sale and sell definitions modified.Sec. 2:
Transaction exemptions modified.Sec. 3: Merger regulations established.Sec. 4:
Merger of a domestic cooperative into a domestic limited +liability company
regulated. AE