Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
- Search Minnesota Statutes
- About Minnesota Statutes
- 2006 Statutes New, Amended or Repealed
- 2006 Table of Chapters
- 2006 Statutes Topics (Index)
Chapter 116S
Section 116S.09
Topics
This is an historical version of this statute chapter. Also view the most recent published version.
116S.09 DISSOLUTION.
In the event of dissolution of the corporation for any reason, the state, upon action by the
governor, and after consultation with the Legislative Advisory Commission, may require the
liquidation of all holdings and investments and the return of the proceeds of that liquidation
and any wholly owned assets of the corporation to the state, in exchange for the assumption of
all outstanding obligations of the corporation.
If the corporation is dissolved, or certain of its functions transferred to another entity, the
assets and liabilities and property associated with the dissolved or transferred functions must
return to the state or to the entity designated by laws.
History: 1993 c 177 s 10
In the event of dissolution of the corporation for any reason, the state, upon action by the
governor, and after consultation with the Legislative Advisory Commission, may require the
liquidation of all holdings and investments and the return of the proceeds of that liquidation
and any wholly owned assets of the corporation to the state, in exchange for the assumption of
all outstanding obligations of the corporation.
If the corporation is dissolved, or certain of its functions transferred to another entity, the
assets and liabilities and property associated with the dissolved or transferred functions must
return to the state or to the entity designated by laws.
History: 1993 c 177 s 10
Official Publication of the State of Minnesota
Revisor of Statutes