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Chapter 116O
Section 116O.20
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This is an historical version of this statute chapter. Also view the most recent published version.
116O.20 DISSOLUTION.
In the event of dissolution of Minnesota Technology, Inc. for any reason, the state of
Minnesota, 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: 1987 c 386 art 2 s 20; 1991 c 322 s 19
In the event of dissolution of Minnesota Technology, Inc. for any reason, the state of
Minnesota, 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: 1987 c 386 art 2 s 20; 1991 c 322 s 19
Official Publication of the State of Minnesota
Revisor of Statutes