Legislative Session number- 87

Bill Name: SF1104

Relating to business organizations

ARTICLE 1 - REVISED UNIFORM LIMITED
LIABILITY COMPANY ACT GENERAL PROVISIONS

"Minnesota Revised Uniform Limited
Liability Company Act"; regulating the organization and operation of limited
liability companies; enacting a revised uniform limited liability company act;
defining certain terms and specifying the governing and supplemental principles
of law; specifying certain powers, duties, and operating requirements;
establishing formation, articles of organization and other filing requirements;
specifying certain requirements for relations of members, managers, and
governors to persons dealing with limited liability companies and for relations
of members to each other and to limited liability companies; regulating
transferable interests and rights of transferees and creditors, members power to
dissociate, the dissolution process, foreign limited liability companies, and
allowed actions by members; regulating merger, conversion, and domestication
actions; providing for uniformity of application and construction; and repealing
certain limited liability companies provisions

ARTICLE 2 - CONFORMING
CHANGES

Making conforming amendments to certain statutory provisions;
specifying instructions to the revisor of statutes; and repealing business
corporations articles of conversion
(je)