Minnesota Cooperative Housing Act
Minnesota · Cooperative Housing Act · §§ 308C.001 to 308C.975 · 90 sections
Overview
This act provides the statutory framework for organizing and operating cooperative housing corporations, covering how such an entity is formed through articles of organization and bylaws, how it may amend its governing documents, and what records and filings it must maintain. It defines the relationship between the cooperative and its members, including the occupancy agreements and proprietary leases under which members hold their housing, restrictions on membership, limited equity arrangements, and a shield protecting members from personal liability for the cooperative's debts. It also establishes internal governance rules for the board of directors — election, removal, quorum and voting requirements, committees, and officers — along with standards of conduct, conflict-of-interest constraints, and provisions for limiting director liability and indemnifying directors and officers.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- Minn. Stat. § 308C.001CITATION.
- Minn. Stat. § 308C.003APPLICATION OF OTHER STATUTES.
- Minn. Stat. § 308C.005DEFINITIONS.
- Minn. Stat. § 308C.007LEGAL RECOGNITION OF ELECTRONIC RECORDS AND SIGNATURES.
- Minn. Stat. § 308C.009USE OF TERM COOPERATIVE RESTRICTED.
- Minn. Stat. § 308C.101RESERVATION OF RIGHT.
- Minn. Stat. § 308C.111FILING FEES.
- Minn. Stat. § 308C.115REGISTERED OFFICE.
- Minn. Stat. § 308C.121ANNUAL RENEWAL.
- Minn. Stat. § 308C.201ORGANIZATIONAL PURPOSE.
- Minn. Stat. § 308C.205ORGANIZERS.
- Minn. Stat. § 308C.211COOPERATIVE NAME.
- Minn. Stat. § 308C.215ARTICLES OF ORGANIZATION.
- Minn. Stat. § 308C.221AMENDMENT OF ARTICLES.
- Minn. Stat. § 308C.225AMENDMENT OF ORGANIZATIONAL DOCUMENTS TO BE GOVERNED BY THIS CHAPTER.
- Minn. Stat. § 308C.235EXISTENCE.
- Minn. Stat. § 308C.241BYLAWS.
- Minn. Stat. § 308C.245COOPERATIVE RECORDS.
- Minn. Stat. § 308C.301POWERS.
- Minn. Stat. § 308C.305EMERGENCY POWERS.
- Minn. Stat. § 308C.311OCCUPANCY AGREEMENTS AND PROPRIETARY LEASES.
- Minn. Stat. § 308C.312LIMITED EQUITY COOPERATIVES.
- Minn. Stat. § 308C.401BOARD GOVERNS COOPERATIVE.
- Minn. Stat. § 308C.405NUMBER OF DIRECTORS.
- Minn. Stat. § 308C.411ELECTION OF DIRECTORS.
- Minn. Stat. § 308C.415FILLING VACANCIES.
- Minn. Stat. § 308C.421REMOVAL OF DIRECTORS.
- Minn. Stat. § 308C.425BOARD OF DIRECTORS' MEETINGS.
- Minn. Stat. § 308C.431QUORUM.
- Minn. Stat. § 308C.435ACT OF BOARD OF DIRECTORS.
- Minn. Stat. § 308C.441ACTION WITHOUT A MEETING.
- Minn. Stat. § 308C.451COMMITTEES.
- Minn. Stat. § 308C.455STANDARD OF CONDUCT.
- Minn. Stat. § 308C.461DIRECTOR CONFLICTS OF INTEREST.
- Minn. Stat. § 308C.465LIMITATION OF DIRECTOR'S LIABILITY.
- Minn. Stat. § 308C.471INDEMNIFICATION.
- Minn. Stat. § 308C.475OFFICERS.
- Minn. Stat. § 308C.501MEMBERS.
- Minn. Stat. § 308C.502MEMBER RESTRICTIONS.
- Minn. Stat. § 308C.505MEMBER NOT LIABLE FOR COOPERATIVE DEBTS.
- Minn. Stat. § 308C.511REGULAR MEMBER MEETINGS.
- Minn. Stat. § 308C.515SPECIAL MEMBER MEETINGS.
- Minn. Stat. § 308C.521CERTIFICATION OF MEETING NOTICE.
- Minn. Stat. § 308C.525QUORUM.
- Minn. Stat. § 308C.531REMOTE COMMUNICATIONS FOR MEMBER MEETINGS.
- Minn. Stat. § 308C.535ACT OF MEMBERS.
- Minn. Stat. § 308C.541ACTION WITHOUT A MEETING.
- Minn. Stat. § 308C.545MEMBER VOTING RIGHTS.
- Minn. Stat. § 308C.571SALE OF PROPERTY AND ASSETS.
- Minn. Stat. § 308C.601MEMBERSHIP INTERESTS.
- Minn. Stat. § 308C.602TITLE TO MEMBERSHIP IN THE COOPERATIVE.
- Minn. Stat. § 308C.603DEVELOPER RIGHTS, RESTRICTIONS, AND OBLIGATIONS.
- Minn. Stat. § 308C.605ASSIGNMENT OF FINANCIAL RIGHTS.
- Minn. Stat. § 308C.611NATURE OF A MEMBERSHIP INTEREST AND STATEMENT OF INTEREST OWNED.
- Minn. Stat. § 308C.612SENIOR HOUSING COOPERATIVE OFFERING DOCUMENTS; GENERAL PROVISIONS.
- Minn. Stat. § 308C.613BUDGET AND REPLACEMENT RESERVE REQUIREMENTS.
- Minn. Stat. § 308C.614LIEN FOR ASSESSMENTS.
- Minn. Stat. § 308C.615FORECLOSURE OF LIENS OR TO ACQUIRE OCCUPANCY RIGHTS FOLLOWING MEMBERSHIP TERMINATION IN A SENIOR HOUSING COOPERATIVE.
- Minn. Stat. § 308C.616CERTIFICATED MEMBERSHIP INTERESTS.
- Minn. Stat. § 308C.621LOST CERTIFICATES; REPLACEMENT.
- Minn. Stat. § 308C.625RESTRICTION ON TRANSFER OR REGISTRATION OF MEMBERSHIP INTERESTS.
- Minn. Stat. § 308C.627OPERATING AGREEMENT.
- Minn. Stat. § 308C.701AUTHORIZATION, FORM, AND ACCEPTANCE OF CONTRIBUTIONS.
- Minn. Stat. § 308C.705RESTATEMENT OF VALUE OF PREVIOUS CONTRIBUTIONS.
- Minn. Stat. § 308C.711CONTRIBUTION AGREEMENTS.
- Minn. Stat. § 308C.715CONTRIBUTION RIGHTS AGREEMENTS.
- Minn. Stat. § 308C.721ALLOCATIONS AND DISTRIBUTIONS TO MEMBERS.
- Minn. Stat. § 308C.725ALLOCATIONS AND DISTRIBUTIONS TO OCCUPANT MEMBERS.
- Minn. Stat. § 308C.735DISTRIBUTION OF UNCLAIMED PROPERTY.
- Minn. Stat. § 308C.801MERGER AND CONSOLIDATION.
- Minn. Stat. § 308C.805MERGER OF SUBSIDIARY.
- Minn. Stat. § 308C.835ABANDONMENT.
- Minn. Stat. § 308C.901METHODS OF DISSOLUTION.
- Minn. Stat. § 308C.902VOLUNTARY DISSOLUTION BY MEMBERS.
- Minn. Stat. § 308C.903NOTICE OF INTENT TO DISSOLVE.
- Minn. Stat. § 308C.905WINDING UP.
- Minn. Stat. § 308C.911REVOCATION OF DISSOLUTION PROCEEDINGS.
- Minn. Stat. § 308C.915STATUTE OF LIMITATIONS.
- Minn. Stat. § 308C.921ARTICLES OF DISSOLUTION.
- Minn. Stat. § 308C.925APPLICATION FOR COURT-SUPERVISED VOLUNTARY DISSOLUTION.
- Minn. Stat. § 308C.931COURT-ORDERED REMEDIES OR DISSOLUTION.
- Minn. Stat. § 308C.935PROCEDURE INVOLUNTARY OR COURT-SUPERVISED VOLUNTARY DISSOLUTION.
- Minn. Stat. § 308C.941RECEIVER QUALIFICATIONS AND POWERS.
- Minn. Stat. § 308C.945DISSOLUTION ACTION BY ATTORNEY GENERAL; ADMINISTRATIVE DISSOLUTION.
- Minn. Stat. § 308C.951FILING CLAIMS IN COURT-SUPERVISED DISSOLUTION PROCEEDINGS.
- Minn. Stat. § 308C.955DISCONTINUANCE OF COURT-SUPERVISED DISSOLUTION PROCEEDINGS.
- Minn. Stat. § 308C.961COURT-SUPERVISED DISSOLUTION ORDER.
- Minn. Stat. § 308C.965FILING COURT'S DISSOLUTION ORDER.
- Minn. Stat. § 308C.971BARRING OF CLAIMS.
- Minn. Stat. § 308C.975RIGHT TO SUE OR DEFEND AFTER DISSOLUTION.
Enacted in other states
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