2005 Minnesota Statutes

     300.39 Par value stock changed to nonpar value stock. 

    A corporation may change any of its common or preferred 
 stock having a par value, to an equal, greater, or smaller 
 number of shares of stock having no par value.  In connection 
 with this change, the corporation may fix the amount of capital 
 stock represented by these shares of stock without par value and 
 may reduce its capital stock by any or all of the following 
 methods:  (1) reducing the number of shares of its stock whether 
 the shares have par value or no par value; (2) reducing the par 
 value of shares which have par value; or (3) reducing the amount 
 of capital stock represented by shares with no par value.  

    HIST: (7470-7) 1925 c 333 s 7; 1984 c 628 art 5 s 1