2005 Minnesota Statutes - 302A.721 — Voluntary dissolution by shareholders.

     302A.721 Voluntary dissolution by shareholders. 


    Subdivision 1.    Manner.  A corporation may be 
 dissolved by the shareholders when authorized in the manner set 
 forth in this section.  


    Subd. 2.    Notice; approval.  (a) Written notice shall 
 be given to each shareholder, whether or not entitled to vote at 
 a meeting of shareholders, within the time and in the manner 
 provided in section 302A.435 for notice of meetings of 
 shareholders and, whether the meeting is a regular or a special 
 meeting, shall state that a purpose of the meeting is to 
 consider dissolving the corporation. 


    (b) The proposed dissolution shall be submitted for 
 approval at a meeting of shareholders.  If the proposed 
 dissolution is approved at a meeting by the affirmative vote of 
 the holders of a majority of the voting power of all shares 
 entitled to vote, the dissolution shall be commenced. 


    HIST: 1981 c 270 s 100; 1982 c 497 s 58