2004 Minnesota Code
Chapters 300 - 319B Corporations
Chapter 300 General Provisions
Section 300.41 Powers of directors to issue stock.
300.41 Powers of directors to issue stock.
Subject to limitations and restrictions set forth in the certificate of incorporation, a corporation may, at a meeting called and held for that purpose, empower its directors to issue shares of its unissued, authorized capital stock without par value and may authorize its directors to fix the amount of money or the actual value of the consideration for which the stock is issued. The certificate of incorporation, or an amendment to it, of a corporation may empower its directors to issue from time to time shares of stock without par value for the consideration the directors consider advisable, subject to the limitations and restrictions specified.
HIST: (7470-9) 1925 c 333 s 9; 1984 c 628 art 5 s 1
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