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MN HF2730
Bill
Status
1/31/2022
Primary Sponsor
Cal Bahr
Click for details
AI Summary
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Defines "blockchain" as a digital ledger or database that is chronological, consensus-based, decentralized, and mathematically verified in nature.
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Defines "certificate token" as an electronic representation of shares that can be transmitted electronically and is either entered into a blockchain or other secure, auditable database, or linked to the certificate token.
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Allows corporations to issue all or a portion of shares as certificate tokens, with the requirement that issuance must be authorized by a message or transaction signed with network signatures of two officers designated in the bylaws or by the board of directors.
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Permits corporations to include provisions regarding the representation of share certificates as certificate tokens in their articles of incorporation or bylaws.
Legislative Description
Certificate tokens authorized in place of shares of stock.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
1/31/2022