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MN SF2326

Bill

Status

Introduced

3/8/2016

Primary Sponsor

Melisa Franzen

Click for details

Origin

Senate

89th Legislature 2015-2016

AI Summary

  • Updates Minnesota Statutes references throughout to include limited liability companies governed by chapter 322C (Minnesota Revised Uniform Limited Liability Company Act) alongside existing chapter 322B references.

  • Clarifies fees for limited liability company filings: establishes $135 formation fee and specifies $35 service of process fee; eliminates requirement for fee on annual renewal filings.

  • Adds provisions recognizing members and managers of chapter 322C limited liability companies as "officers of the company" for purposes of service of process and other statutory definitions.

  • Extends eligibility for various state programs (broadband grants, charter school authorization, energy development projects) to include limited liability companies organized under chapter 322C.

  • Effective retroactively from August 1, 2015, except conversion to corporations governed by chapter 304A which is effective the day following final enactment.

Legislative Description

Minnesota revised uniform limited liability company act limited liability companies statutory references update; fee clarification

Last Action

Second reading

3/14/2016

Committee Referrals

Judiciary3/8/2016

Full Bill Text

No bill text available