House OKs modernizing statutes for business lawyers; sets uniform merger fee

The House approved a bill Monday that would make technical changes to the statutes governing businesses like LLCs, LLPs and nonprofits.

HF2764, sponsored by Rep. Dennis Smith (R-Maple Grove), was passed 130-0 by the House and goes to the Senate where Sen. Jerry Relph (R-St. Cloud) is the sponsor.

Much of the bill would modernize certain statutes so they are easier for users and lawyers to understand when handling domestication and conversion of corporations, nonprofits, LLCs and limited partnerships. It also would set a $60 uniform fee base for each merger.

Smith said both the Minnesota Bar Association and the secretary of state’s office support the bill.

WATCH Floor debate and vote on the bill