2003 Minnesota Statutes

     300.12 Bylaws; statements. 

    Subdivision 1.    Adoption of bylaws.  The first board 
 of directors, trustees, or managers must adopt bylaws.  The 
 bylaws may be amended by the stockholders or members at a 
 regular or special meeting called for that purpose.  

    Subd. 2.    Bylaws and certain statements posted in place 
 of business.  A copy of the bylaws of a corporation whose 
 articles are filed with the secretary of state, the names of its 
 officers, and a statement of the amount of any capital stock 
 actually and in good faith subscribed for, the amount and 
 character of payments actually made on the stock; and, in the 
 case of corporations empowered to take private property, the 
 amount of its indebtedness in a general way, must also be kept 
 posted in its principal place of business.  The statement must 
 be corrected as often as any material change takes place in 
 relation to any part of its subject matter. 

    HIST: (7453, 7454) RL s 2854, 2855; 1984 c 628 art 5 s 1