Bill > HF3419

This bill, titled "Certain powers of entities retracted and regranted," aims to redefine the powers granted to various entities operating under Minnesota law, including corporations, limited liability companies, and trusts, as well as foreign entities authorized to do business in the state. The bill establishes that entities exist solely by the state's grant and only possess powers explicitly provided, retracting all previously granted powers and then regranting only those deemed necessary or convenient for lawful business or charitable purposes. Crucially, the bill explicitly states that the powers of entities do not include "election activity" (supporting or opposing candidates, parties, or political committees) or "ballot-issue activity" (supporting or opposing ballot questions or initiatives), and any language in an entity's founding documents attempting to grant these powers is void. Exceptions are made for registered political funds or committees, which can engage in such activities if they exist solely for that purpose and claim no "entity benefits" beyond limited liability (privileges conferred by the state, such as limited liability or perpetual duration). Additionally, bona fide news stories, commentaries, or editorials distributed through various media outlets are not considered election or ballot-issue activity unless the media facilities are controlled by a political party, committee, or candidate. Entities that engage in prohibited election or ballot-issue activity, unless they qualify as a political fund or committee, will forfeit all entity benefits.

Business and Industry

https://www.revisor.mn.gov/bills/94/2026/0/HF/3419/