2007 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 302A Business Corporations
Section 302A.763 DECREE OF DISSOLUTION.
302A.763 DECREE OF DISSOLUTION.
Subdivision 1. When entered. In an involuntary or supervised voluntary dissolution after the
costs and expenses of the proceedings and all debts, obligations, and liabilities of the corporation
have been paid or discharged and all of its remaining property and assets have been distributed to
its shareholders or, if its property and assets are not sufficient to satisfy and discharge the costs,
expenses, debts, obligations, and liabilities, when all the property and assets have been applied so
far as they will go to their payment according to the priorities set forth in section
302A.753, the
court shall enter a decree dissolving the corporation.
Subd. 2. Effective date. When the decree dissolving the corporation has been entered,
the corporation is dissolved.
History: 1981 c 270 s 114
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