2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.12 Bylaws; statements.
300.12 Bylaws; statements.
Subdivision 1. Adoption of bylaws. The first board of directors, trustees, or managers must adopt bylaws. The bylaws may be amended by the stockholders or members at a regular or special meeting called for that purpose.
Subd. 2. Bylaws and certain statements posted in place of business. A copy of the bylaws of a corporation whose articles are filed with the secretary of state, the names of its officers, and a statement of the amount of any capital stock actually and in good faith subscribed for, the amount and character of payments actually made on the stock; and, in the case of corporations empowered to take private property, the amount of its indebtedness in a general way, must also be kept posted in its principal place of business. The statement must be corrected as often as any material change takes place in relation to any part of its subject matter.
HIST: (7453, 7454) RL s 2854, 2855; 1984 c 628 art 5 s 1
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