Minnesota § 116S.03 CORPORATE PERSONNEL

Minnesota Statutes

§ 116S.03 — CORPORATE PERSONNEL

Minnesota § 116S.03

PartBUSINESS DEVELOPMENT

Ch. 116SMINNESOTA BUSINESS FINANCE, INC.

This text of Minnesota § 116S.03 (CORPORATE PERSONNEL) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 116S.03 (2026).

Text

Subdivision 1.Generally.
The board shall appoint and set the compensation for the executive director, who serves as chief executive officer of the corporation. The executive director's compensation may not exceed 95 percent of the salary of the governor set under section15A.082. The board may designate the executive director as its general agent. Subject to the approval of the board, the executive director shall employ staff consultants and other agents necessary to carry out the mission of the corporation.

Subd. 2.Status of employees.
Employees, officers, and directors of the corporation are not state employees, but are covered by section3.736and, at the option of the board, may participate in the state retirement plan, the state deferred compensation plan for employees in the unclassif

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Subdivision 1.Generally.
The board shall appoint and set the compensation for the executive director, who serves as chief executive officer of the corporation. The executive director's compensation may not exceed 95 percent of the salary of the governor set under section15A.082. The board may designate the executive director as its general agent. Subject to the approval of the board, the executive director shall employ staff consultants and other agents necessary to carry out the mission of the corporation.

Subd. 2.Status of employees.
Employees, officers, and directors of the corporation are not state employees, but are covered by section3.736and, at the option of the board, may participate in the state retirement plan, the state deferred compensation plan for employees in the unclassified service, and an insurance plan administered by the commissioner of management and budget.