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Committee advances Business Corporations Act update to general register
Summary
The Judiciary Finance and Civil Law Committee recommended House File 747 for passage and placement on the general register after testimony from the Minnesota State Bar Association about modernizing corporate governance rules.
The Judiciary Finance and Civil Law Committee voted by voice to recommend House File 747, a package of updates to Minnesota's Business Corporations Act, to pass and be placed on the general register.
The bill, described to the committee as originating from the Minnesota State Bar Association, would update multiple internal-governance rules to align Minnesota's corporate law with recent developments in the Model Business Corporations Act and practices in Delaware, a leading jurisdiction for corporate law. Representative Niska moved the bill and the committee approved it by voice vote.
Kim Lowe, a…
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