317A.801 EXTENSION AFTER DURATION EXPIRED.
Subdivision 1. Extension by amendment.
A corporation whose period of duration provided
in the articles has expired and that has continued to operate despite that expiration may reinstate
its articles and extend the period of corporate duration, including making the duration perpetual,
after the date of expiration by filing an amendment to the articles as set forth in this section.
This section also applies to corporations that may have been formed under prior laws governing
nonprofit corporations and that expired before chapter 317 was repealed on January 1, 1990.
Subd. 2. Contents of amendment.
An amendment to the articles must be approved by the
board of directors and must include:
(1) the date the period of duration expired under the articles;
(2) a statement that the period of duration will be perpetual or, if a shorter period is to be
provided, the date to which the period of duration is extended; and
(3) a statement that the corporation has been in continuous operation since before the date of
expiration of its original period of duration.
Subd. 3. Approval by members with voting rights.
If the corporation has members with
voting rights, the amendment to the articles must be presented, after notice, to a meeting of
those members. The amendment is adopted when approved by the members with voting rights
Subd. 4. Filing.
Articles of amendment conforming to section
must be filed with
the secretary of state.
History: 1989 c 304 s 116; 2000 c 395 s 9