2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.29 Procedure of officer levying.
300.29 Procedure of officer levying.
The officer holding an execution to be levied on private property must first demand payment of the president, secretary, or other acting officer of the corporation, or one of its last acting officers. If that person fails to satisfy the execution or point out corporate property upon which it may be levied, the officer holding the execution must endorse on it the fact of the demand and failure to pay and then levy the execution upon individual property of any stockholder impleaded and served. The levy may be made to satisfy the balance due upon an execution after levy upon corporate property, or part payment from corporate funds.
HIST: (7467) RL s 2867; 1984 c 628 art 5 s 1
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