Minn. Stat. § 302A.453
Voting Trusts
Minnesota · Minnesota Statutes Chapter 302A — Business Corporations · Status: effective
Cite this
- Citation
- Minn. Stat. § 302A.453, Voting Trusts, Minnesota, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1724554
- Permanent ID
ys:prov:1724554@1- SHA-256
9130a0cf52cfe7d981053f5dc6c88d2833716af4fe2a7bf7fb228d10fa36b803
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Subdivision 1. Authorization; period; termination.
Shares in a corporation may be transferred to a trustee pursuant to written agreement, for the purpose of conferring on the trustee the right to vote and otherwise represent the beneficial owner of those shares for a period not exceeding 15 years, except that if the agreement is made in connection with an indebtedness of the corporation, the voting trust may extend until the indebtedness is discharged. Unless otherwise specified in the agreement, the voting trust may be terminated at any time by the beneficial owners of a majority of the voting power of the shares held by the trustee. A copy of the agreement shall be filed with the corporation.
Subd. 2. Voting by trustees.
Unless otherwise provided in the trust agreement, if there are two or more trustees, the manner of voting is determined as provided in section 302A.445, subdivision 5.