Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
302A.7291 DISSOLUTION PROCEDURE FOR CORPORATIONS THAT DO NOT GIVE
NOTICE.
Subdivision 1. Articles of dissolution; when filed. Articles of dissolution for a corporation
that has not given notice to creditors and claimants in the manner provided in section 302A.727
must be filed with the secretary of state after:
(1) the payment of claims of all known creditors and claimants has been made or provided
for; or
(2) at least two years have elapsed from the date of filing the notice of intent to dissolve.
Subd. 2. Contents of articles. The articles of dissolution must state:
(1) if articles of dissolution are being filed pursuant to subdivision 1, clause (1), that all
known debts, obligations, and liabilities of the corporation have been paid and discharged or that
adequate provision has been made for payment or discharge;
(2) that the remaining property, assets, and claims of the corporation have been distributed
among its shareholders in accordance with section 302A.551, subdivision 4, or that adequate
provision has been made for that distribution; and
(3) that there are no pending legal, administrative, or arbitration proceedings by or against
the corporation, or that adequate provision has been made for the satisfaction of any judgment,
order, or decree that may be entered against it in a pending proceeding.
Subd. 3. Claims against corporations that do not give notice. (a) If the corporation has
paid or provided for all known creditors or claimants at the time articles of dissolution are filed, a
creditor or claimant who does not file a claim or pursue a remedy in a legal, administrative, or
arbitration proceeding within two years after the date of filing the notice of intent to dissolve is
barred from suing on that claim or otherwise realizing upon or enforcing it.
(b) If the corporation has not paid or provided for all known creditors and claimants at the
time articles of dissolution are filed, a person who does not file a claim or pursue a remedy in a
legal, administrative, or arbitration proceeding within two years after the date of filing the notice
of intent to dissolve is barred from suing on that claim or otherwise realizing upon or enforcing
it, except as provided in section 302A.781.
History: 1991 c 49 s 25
NOTICE.
Subdivision 1. Articles of dissolution; when filed. Articles of dissolution for a corporation
that has not given notice to creditors and claimants in the manner provided in section 302A.727
must be filed with the secretary of state after:
(1) the payment of claims of all known creditors and claimants has been made or provided
for; or
(2) at least two years have elapsed from the date of filing the notice of intent to dissolve.
Subd. 2. Contents of articles. The articles of dissolution must state:
(1) if articles of dissolution are being filed pursuant to subdivision 1, clause (1), that all
known debts, obligations, and liabilities of the corporation have been paid and discharged or that
adequate provision has been made for payment or discharge;
(2) that the remaining property, assets, and claims of the corporation have been distributed
among its shareholders in accordance with section 302A.551, subdivision 4, or that adequate
provision has been made for that distribution; and
(3) that there are no pending legal, administrative, or arbitration proceedings by or against
the corporation, or that adequate provision has been made for the satisfaction of any judgment,
order, or decree that may be entered against it in a pending proceeding.
Subd. 3. Claims against corporations that do not give notice. (a) If the corporation has
paid or provided for all known creditors or claimants at the time articles of dissolution are filed, a
creditor or claimant who does not file a claim or pursue a remedy in a legal, administrative, or
arbitration proceeding within two years after the date of filing the notice of intent to dissolve is
barred from suing on that claim or otherwise realizing upon or enforcing it.
(b) If the corporation has not paid or provided for all known creditors and claimants at the
time articles of dissolution are filed, a person who does not file a claim or pursue a remedy in a
legal, administrative, or arbitration proceeding within two years after the date of filing the notice
of intent to dissolve is barred from suing on that claim or otherwise realizing upon or enforcing
it, except as provided in section 302A.781.
History: 1991 c 49 s 25
Official Publication of the State of Minnesota
Revisor of Statutes