1997 Minnesota Statutes

     322B.366 Member voting agreements. 

    Subdivision 1.    General rule.  Except as provided in 
 subdivision 2, a written agreement among persons who are then 
 members or who have signed contribution agreements, relating to 
 the voting of their membership interests, is valid and 
 specifically enforceable by and against the parties to the 
 agreement.  The agreement may override the provisions of section 
 322B.363, subdivisions 1 to 7, regarding proxies.  

    Subd. 2.    Limitation on voting agreements.  Any 
 assignee of any member's financial rights may not be a party to 
 an agreement under subdivision 1, unless that assignee is also a 
 member.  A voting agreement may not relate to the consents 
 referred to in section 322B.80, subdivision 1, clause (5); 
 322B.313, subdivision 2; 322B.42, subdivision 5; or 322B.43, 
 subdivision 3. 

    HIST: 1992 c 517 art 2 s 45