HF 3417

1st Engrossment - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to business organizations; waiver of reinstatement fee after certain
dissolution of an entity when a principal of the entity is a returning combat
veteran; proposing coding for new law in Minnesota Statutes, chapter 5.

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

Section 1.

new text begin [5.33] RETURNING COMBAT VETERANS.
new text end

new text begin If any Minnesota business or nonprofit corporation, limited liability company,
cooperative, limited partnership, or limited liability partnership has been administratively
or statutorily dissolved, revoked, or terminated for failure to file an annual or periodic
report with the Office of the Secretary of State during a calendar year when an individual
with substantial responsibility for the operation of the dissolved, revoked, or terminated
business or nonprofit corporation, limited liability company, cooperative, limited
partnership, or limited liability partnership was serving in active military service in the
armed forces of the United States, including the reserves or National Guard, as defined in
section 190.05, subdivision 5b or 5c, or was engaged in employment outside of the United
States essential to the prosecution of a war or to the national defense, as designated by the
United States Congress or the United States Department of Defense, the secretary of state
shall waive any reinstatement fee otherwise required by law.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective retroactively from January 1, 2007.
new text end