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302A.721 Voluntary dissolution by shareholders.

Subdivision 1. Manner. A corporation may be dissolved by the shareholders when authorized in the manner set forth in this section.

Subd. 2. Notice; approval. (a) Written notice shall be given to each shareholder, whether or not entitled to vote at a meeting of shareholders, within the time and in the manner provided in section 302A.435 for notice of meetings of shareholders and, whether the meeting is a regular or a special meeting, shall state that a purpose of the meeting is to consider dissolving the corporation.

(b) The proposed dissolution shall be submitted for approval at a meeting of shareholders. If the proposed dissolution is approved at a meeting by the affirmative vote of the holders of a majority of the voting power of all shares entitled to vote, the dissolution shall be commenced.

HIST: 1981 c 270 s 100; 1982 c 497 s 58

Official Publication of the State of Minnesota
Revisor of Statutes