1997 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.39 Par value stock changed to nonpar value stock.
300.39 Par value stock changed to nonpar value stock.
A corporation may change any of its common or preferred stock having a par value, to an equal, greater, or smaller number of shares of stock having no par value. In connection with this change, the corporation may fix the amount of capital stock represented by these shares of stock without par value and may reduce its capital stock by any or all of the following methods: (1) reducing the number of shares of its stock whether the shares have par value or no par value; (2) reducing the par value of shares which have par value; or (3) reducing the amount of capital stock represented by shares with no par value.
HIST: (7470-7) 1925 c 333 s 7; 1984 c 628 art 5 s 1
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