2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.26 Effect of transfer; stock books.
300.26 Effect of transfer; stock books.
The transfer of shares is not binding upon the company until it is regularly entered on the books of the company to show the names of the persons by and to whom transferred, the number or other designation of the shares, and the date of the transfer. The transfer does not exempt the person making the transfer from liabilities of the corporation which were created prior to the transfer. The books of the company must be kept to show intelligibly the original stockholders, their respective interests, the amount which has been paid in on their shares, and all transfers of the shares. The books, or correct copies of them, so far as the items mentioned in this section are concerned, are subject to the inspection of any person.
HIST: (7464) RL s 2864; 1965 c 812 s 11; 1984 c 628 art 5 s 1
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