Minnesota Clauses Relating to Termination and Liquidation of Venture
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FAQ
For tax purposes, LLCs must apply for a federal Employer ID Number from the Internal Revenue Service (IRS), and a Minnesota Tax ID Number from the Minnesota Department of Revenue.
A Minnesota LLC isn't legally obligated to have an operating agreement. Minnesota Statute § 322C. 0110 outlines what an operating agreement may cover but doesn't state that LLCs must have one.
The Minnesota legislature made very few changes from the 1962 official text in adopting the Minnesota UCC. The official text contains certain optional sections and alternative provisions, on matters not essential to uniformity, from which adopting states can elect the alternatives they prefer.
In order to withdraw from Minnesota, a Corporation or LLC must submit a certificate of withdrawal to the Minnesota Secretary of State (SOS). Minnesota allows filing in person, by mail, or online. The Minnesota SOS accepts cash or check for paper filings and check or credit card for electronic filings.
0407 MANAGEMENT OF LIMITED LIABILITY COMPANY.
An action required or permitted to be taken at a meeting of the shareholders may be taken without a meeting by written action signed, or consented to by authenticated electronic communication, by all of the shareholders entitled to vote on that action.
Under Minnesota law, pursuant to the Minn. Stat. § 559.217, either the buyer or the seller have the right to initiate a statutory cancelation of a residential purchase agreement if a default occurs or an unfulfilled condition exists after the date specified for fulfillment.
Minnesota Statutes, Chapter 322C A Converted Organization that is a foreign organization and not authorized to transact business in this state appoints the secretary of state as its agent for service of process for purposes of enforcing a debt, obligation, or other liability under this subdivision.