Minnesota § 318.01 ORGANIZATION; SCOPE OF BUSINESS

Minnesota Statutes

§ 318.01 — ORGANIZATION; SCOPE OF BUSINESS

Minnesota § 318.01

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 318DECLARATION OF TRUST

This text of Minnesota § 318.01 (ORGANIZATION; SCOPE OF BUSINESS) 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. § 318.01 (2026).

Text

Two or more natural persons, whether residents of this state or not, or two or more corporations which are now organized or may hereafter be organized, which includes all domestic corporations, national banks and only those foreign corporations which hold a certificate of authority to transact business in this state, may organize and associate themselves together for the purpose of transacting business in this state under what is commonly designated or known as a "declaration of trust" or "business trust"; provided, however, no such association shall ever be permitted or authorized to transact in this state any business of insurance except the kind of business of insurance specified in section60A.06, subdivision 1(7), and all acts amendatory thereof; and further provided, however, no such 

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Two or more natural persons, whether residents of this state or not, or two or more corporations which are now organized or may hereafter be organized, which includes all domestic corporations, national banks and only those foreign corporations which hold a certificate of authority to transact business in this state, may organize and associate themselves together for the purpose of transacting business in this state under what is commonly designated or known as a "declaration of trust" or "business trust"; provided, however, no such association shall ever be permitted or authorized to transact in this state any business of insurance except the kind of business of insurance specified in section60A.06, subdivision 1(7), and all acts amendatory thereof; and further provided, however, no such association shall ever be permitted or authorized to transact a banking or surety business, of any kind, in this state.