2005 Minnesota Statutes

     300.54 Capital stock; how classified and issued. 

    Except as otherwise specially limited or provided, no 
 corporation may issue a share of stock for a less amount to be 
 actually paid in than the par value of those first issued.  A 
 railroad or exclusively manufacturing corporation may issue and 
 dispose of as much special preferred, or full-paid stock as its 
 board of directors considers advisable.  A corporation, whose 
 original or amended certificate of incorporation provides, may 
 issue and dispose of special and preferred and common stock, or 
 special or preferred and common stock.  A corporation, without 
 change of its certificate of incorporation, may issue its 
 capital stock, part special, part preferred, and part common, or 
 part common and part either special or preferred, when its board 
 of directors is so authorized by a majority vote of its 
 stockholders at its annual meeting or at a meeting called for 
 that specifically stated purpose, and may give preference to the 
 special or preferred stock, or to the special and preferred 
 stock.  

    HIST: (7480) RL s 2878; 1984 c 628 art 5 s 1