Chapter 116S — Corporation; Members; Board of Directors; Powers
Minnesota Statutes Chapter 116S — Corporation; Members; Board of Directors; Powers
116S.01
Definitions
This section defines key terms used in Minnesota's business finance corporation law. It explains what the corporation …
116S.02
Corporation; Members; Board of Directors; Powers
This section establishes the Minnesota business finance corporation as a nonprofit entity. It defines the membership, …
116S.03
Corporate Personnel
This section addresses the staffing of the business finance corporation. It sets rules for hiring employees and …
116S.04
Powers of Corporation
This section describes the powers of the Minnesota business finance corporation. It can make loans, issue bonds, enter …
116S.05
Registered Name
This section protects the name of the Minnesota business finance corporation. Only the authorized corporation can use …
116S.06
Minnesota Business Finance Account
This section creates the Minnesota business finance account to fund the corporation's activities. The account holds …
116S.07
Audits
This section requires audits of the business finance corporation's financial records. Regular audits ensure the …
116S.08
Annual Reports
This section requires the business finance corporation to file annual reports. These reports provide information about …
116S.09
Dissolution
This section sets rules for dissolving the business finance corporation. If the corporation is no longer needed, this …
116S.10
Successor Status
This section addresses what happens if the business finance corporation is replaced by a successor organization. It …
116S.11
Relationship to Other Certified Development Companies
This section describes the relationship between the state business finance corporation and other certified development …