Loading chat...
MN HF1930
Bill
Status
Introduced
2/25/2014
Primary Sponsor
Phyllis Kahn
Click for details
AI Summary
- Governor must facilitate formation of a corporation or business organization to acquire the Minnesota Orchestra with a private governing structure.
- No individual or entity may own more than five percent of common stock, with at least 50 percent of ownership sold to the general public where no person or entity may own more than one percent.
- Governance documents may include preferred stock in addition to common stock with specified rights for each class.
- Artistic decisions must be made only by persons employed for that purpose, not by the board of directors.
- Legislation takes effect the day following final enactment.
Legislative Description
Minnesota Orchestra community ownership process provided.
Last Action
Introduction and first reading, referred to Government Operations
2/25/2014
Committee Referrals
Government Operations2/25/2014
Full Bill Text
No bill text available