2007 Minnesota Statutes

383B.908 LIMITATIONS UPON CORPORATE POWERS; RESERVED POWERS.
    Subdivision 1. Powers reserved to county. Notwithstanding the authority granted to the
board in section 383B.907, the county board shall retain specific controls over the corporation's
mission, ability to incur indebtedness through the county, indigent care, and governance. These
county board controls must be specified in the bylaws or other transactional documents, which
shall be approved by the county board.
    Subd. 2. Restriction on disposition of assets. The corporation shall not have the power
to dissolve, merge, consolidate, transfer, liquidate, or otherwise dispose of or distribute all, or
substantially all, of the corporation's assets without a county board resolution approved by a
majority of the county board.
    Subd. 3. Distribution of assets upon dissolution. In the event of the dissolution of the
corporation, the net assets of the corporation shall be distributed to the county for public purposes.
    Subd. 4. Compensation and payment limitations. No part of the net earnings and assets
of the corporation shall inure to the benefit of any private individual, nor shall any part of the
income or assets of the corporation be distributed to or divided among any private individuals
as dividends or otherwise.
    Subd. 5. Financial oversight. The county board shall approve the annual budget of the
corporation and receive an annual audited financial statement. The annual budget shall address
how efficiencies and revenues contribute to stabilize or reduce county liabilities for indigent care.
The county board shall also retain the right to conduct an independent audit of the finances of
the corporation.
    Subd. 6. County services. The county board shall retain the authority to require the
corporation to provide other health care or health care related services as the county board
determines to be in the best interest of the county. The corporation shall provide these services as
long as the county board provides funds to pay for the services. Payment to the corporation for the
services shall be as agreed between the corporation and the county board.
    Subd. 7. Dissolution or reorganization of corporation. The county board shall retain the
right to dissolve the corporation, reorganize the corporation, or remove the entire corporate board
in order to resume management of Hennepin County Medical Center upon a two-thirds vote
of the entire county board.
History: 2005 c 125 art 1 s 8

NOTE: This section, as added by Laws 2005, chapter 125, article 1, section 8, is effective
when the initial board of the corporation is appointed by the county board. Laws 2005, chapter
125, article 1, section 29, as amended by Laws 2005, First Special Session chapter 7, section 34.