1999 Minnesota Statutes

     322B.656 Action without a meeting. 

    Subdivision 1.    Method.  An action required or 
 permitted to be taken at a board of governors meeting may be 
 taken by written action signed by all of the governors.  If the 
 articles or a member control agreement so provide, any action, 
 other than an action requiring member approval, may be taken by 
 written action signed by the number of governors that would be 
 required to take the same action at a meeting of the board of 
 governors at which all governors were present.  

    Subd. 2.    Effective time.  The written action is 
 effective when signed by the required number of governors, 
 unless a different effective time is provided in the written 
 action.  

    Subd. 3.    Notice and liability.  When written action 
 is permitted to be taken by less than all governors, all 
 governors must be notified immediately of its text and effective 
 date.  Failure to provide the notice does not invalidate the 
 written action.  A governor who does not sign or consent to the 
 written action has no liability for the action or actions taken 
 by the written action. 

    HIST: 1992 c 517 art 2 s 80; 1999 c 85 art 2 s 74