2007 Minnesota Statutes

308A.151 AMENDMENT OF ARTICLES TO RENEW EXPIRED CORPORATE
EXISTENCE.
    Subdivision 1. Amendment to renew corporate existence. If the period of corporate
existence of a corporation organized under any law of this state that has conducted its business
on a cooperative plan expires and the corporation continues in good faith to carry on and
transact business, the corporation may renew its corporate existence by amending its articles
of incorporation to comply with this chapter. The amended articles must include a provision
extending the corporate duration for a limited period or making the corporate existence perpetual.
    Subd. 2. Does not affect pending litigation. This section does not affect pending litigation.
    Subd. 3. Does not apply to forfeited charter. This section does not apply to a corporation
whose charter has been declared forfeited by a court of competent jurisdiction.
    Subd. 4. Corporate acts and contracts validated. If a corporation complies with
subdivisions 1, 2, and 3, corporate acts and contracts that were performed, made, and entered into
after the expiration of the corporate existence are legal and valid against the objection that the
period of duration of the corporation had expired.
History: 1989 c 144 art 1 s 14