In the event of dissolution of Enterprise Minnesota, Inc. for any reason, the state of Minnesota, upon action by the governor, and after consultation with the Legislative Advisory Commission, may require the liquidation of all holdings and investments and the return of the proceeds of that liquidation and any wholly owned assets of the corporation to the state, in exchange for the assumption of all outstanding obligations of the corporation.
If the corporation is dissolved, or certain of its functions transferred to another entity, the assets and liabilities and property associated with the dissolved or transferred functions must return to the state or to the entity designated by laws.
1987 c 386 art 2 s 20; 1991 c 322 s 19; 2008 c 290 s 2
Structure Minnesota Statutes
Chapters 116J - 116O — Economic Development And Planning
Chapter 116O — Enterprise Minnesota, Inc.
Section 116O.011 — Name Change.
Section 116O.02 — Definitions.
Section 116O.03 — Corporation; Board Of Directors; Powers.
Section 116O.04 — Corporate Personnel.
Section 116O.05 — Powers Of Corporation.
Section 116O.061 — Financial Assistance.
Section 116O.115 — Small Business Growth Acceleration Program.