SF 3067

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 military
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 MILITARY VETERANS; WAIVER OF
REINSTATEMENT FEE.
new text end

new text begin The secretary of state may waive a reinstatement fee required by law when a
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
secretary of state during a calendar year when an individual with substantial responsibility
for the operation of that entity was:
new text end

new text begin (1) in the armed forces of the United States, including the reserves or National
Guard; or
new text end

new text begin (2) engaged in employment outside of the United States, which is designated by
the United States Department of Defense as essential to the prosecution of a war or
to the national defense.
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