2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.32 Record of stock; reports; dividends.
300.32 Record of stock; reports; dividends.
In all stock corporations the directors must cause accurate and complete records to be kept of all corporate proceedings and of all stock subscribed, transferred, canceled, or retired and proper books, accounts, files, and records of all other business transacted. All books and records must, at all reasonable times and for all proper purposes, be open to the inspection of a stockholder. Its directors must when required present to the stockholders written reports of its condition and business and declare the dividends of the profits of the business as they consider advisable. The director may not by declaring dividends reduce the capital while there are outstanding liabilities.
HIST: (7470) RL s 2869; 1984 c 628 art 5 s 1
Disclaimer: These codes may not be the most recent version. Minnesota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
