Minnesota § 317A.671 CERTAIN ASSETS NOT TO BE DIVERTED

Minnesota Statutes

§ 317A.671 — CERTAIN ASSETS NOT TO BE DIVERTED

Minnesota § 317A.671

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 317ANONPROFIT CORPORATIONS

This text of Minnesota § 317A.671 (CERTAIN ASSETS NOT TO BE DIVERTED) 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. § 317A.671 (2026).

Text

Except as provided in section501B.31, when a corporation:

(1)converts;

(2)dissolves;

(3)merges;

(4)substantially changes the use or purposes for which it will use its assets;

(5)consolidates;

(6)transfers its assets; or

(7)grants a mortgage or other security interest in its assets, assets of the corporation or a constituent corporation or converting corporation, and assets subsequently received by a single or converted corporation after a merger or consolidation, or held by a converted organization after a conversion may not be diverted from the uses and purposes for which the assets have been received and held, or from the uses and purposes expressed or intended by the original donor.

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Except as provided in section501B.31, when a corporation:
(1) converts;
(2) dissolves;
(3) merges;
(4) substantially changes the use or purposes for which it will use its assets;
(5) consolidates;
(6) transfers its assets; or
(7) grants a mortgage or other security interest in its assets,
assets of the corporation or a constituent corporation or converting corporation, and assets subsequently received by a single or converted corporation after a merger or consolidation, or held by a converted organization after a conversion may not be diverted from the uses and purposes for which the assets have been received and held, or from the uses and purposes expressed or intended by the original donor.