MN SF1097

Amends Minnesota Statutes section 302A.165 to add an exception for a new section 302A.167 regarding corporate independent political expenditures.

Creates new section 302A.167 stating that corporations organized under Minnesota chapter 302A do not have the power to make corporate independent political expenditures.

Establishes that the lack of power to make independent political expenditures can be enforced through shareholder injunction proceedings, corporate proceedings against officers or directors, or proceedings by the attorney general.

Makes any corporate independent political expenditures subject to challenge as ultra vires (beyond the corporation's legal authority) under existing procedural mechanisms in state law.