HF 3246

as introduced - 94th Legislature (2025 - 2026) Posted on 04/25/2025 10:05am

A bill for an act
relating to commerce; setting payment term to 45 days for certain corporations;
proposing coding for new law in Minnesota Statutes, chapter 325E.

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

Section 1.

new text begin [325E.251] REMITTANCE OF PAYMENT.
new text end

new text begin (a) If a corporation's stock is a federal covered security, as specified in United States
Code, title 15, section 77r(b), the corporation must remit payment for goods and services
within 45 days of receiving the goods or services.
new text end

new text begin (b) For purposes of this section, "corporation" includes a subsidiary that is wholly owned
by a corporation subject to paragraph (a).
new text end