308B.215 Articles of organization.
Subdivision 1. Requirements. (a) The articles of the cooperative shall include:
(1) the name of the cooperative;
(2) the purpose of the cooperative;
(3) the name and address of each organizer; and
(4) the period of duration for the cooperative, if the duration is not to be perpetual.
(b) The articles may contain any other lawful provision.
(c) The articles shall be signed by the organizers.
Subd. 2. Filing. The original articles and a designation of the cooperative's registered office and agent, including a registration form under section 308B.121, shall be filed with the secretary of state. The fee for filing the articles with the secretary of state is $60.
Subd. 3. Effect of filing. When the articles, the registration form under section 308B.121, and the designation of the cooperative's registered office and agent have been filed with the secretary of state and the required fee has been paid to the secretary of state, it shall be presumed that:
(1) all conditions precedent that are required to be performed by the organizers have been complied with;
(2) the organization of the cooperative has been chartered by the state as a separate legal entity; and
(3) the secretary of state shall issue a certificate of organization to the cooperative.
HIST: 2003 c 105 art 1 s 12