2025 Session
Last amended: 1981 session
§ 302A.101 — Purposes
Plain-Language Summary
A Minnesota corporation can be formed for any lawful business purpose. Unless the articles of incorporation say otherwise, the corporation is presumed to have general business purposes, meaning it is not limited to one specific type of business.
302A.101 PURPOSES.
A corporation may be incorporated under this chapter for any business purpose or purposes, unless some other statute of this state requires incorporation for any of those purposes under a different law. Unless otherwise provided in its articles, a corporation has general business purposes.
History:
History: History:
1981 c 270 s 5
Practical Notes
When this applies: When incorporating a new business in Minnesota under Chapter 302A. Who this affects: Incorporators and business owners forming a corporation. Key points: You generally do not need to list a specific business purpose in your articles of incorporation. Having general business purposes gives the corporation flexibility to engage in any lawful activity. However, if another Minnesota statute requires incorporation under a different law for a particular purpose (such as banking or insurance), you must use that specific law instead.