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Committee re-refers business corporation update to judiciary committee after MSBA-backed presentation
Summary
House File 747, a State Bar Association-backed update to Minnesota's business corporation statute, was re-referred to the committee on Judiciary and Civil Law after proponents described technical changes to align Minnesota law with model rules and Delaware practice.
State Rep. Niska presented House File 747 to the Commerce, Finance and Policy Committee on Feb. 20 and asked the panel to refer the bill to the Judiciary and Civil Law Committee after testimony from members of the Minnesota State Bar Association.
The bill updates Minnesota's business corporation statute to reflect recent developments in corporate governance and to align state law with the Model Business Corporation Act and common practices in Delaware, proponents said. "Passing this bill is really just…
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