Rhode Island Sections 302A.471 and 302A.473 of the Minnesota Business Corporation Act are important provisions that govern specific aspects of corporate law in the state. While Rhode Island and Minnesota may not share the same legal framework, we can still provide you with relevant information regarding these sections. Section 302A.471 of the Minnesota Business Corporation Act pertains to "Actions by the Corporation or Derivative Proceedings." This section outlines the procedures and requirements for a corporation to initiate legal action on its own behalf, or for shareholders to bring a derivative suit on behalf of the corporation. Some potential keywords associated with this section include "corporate actions," "derivative proceedings," "shareholder lawsuits," and "corporate litigation." On the other hand, Section 302A.473 deals with "Quorum and Voting Requirements for Shareholder Actions." This section specifies the number of shareholders or votes required to constitute a quorum for various types of shareholder actions and determines the majority necessary to approve certain matters. It covers topics such as voting rights, proxies, and the calculation of votes. Keywords relevant to this section include "quorum requirements," "shareholder voting," "proxy voting," and "majority approval." It's important to note that Rhode Island has its own unique set of corporate laws and statutes. Unfortunately, specific references to Rhode Island Sections 302A.471 and 302A.473 of the Minnesota Business Corporation Act could not be found as they are specific to Minnesota. However, it is recommended to consult the official Rhode Island laws and regulations, such as the Rhode Island General Laws Title 7, to access the corresponding provisions that govern similar matters in Rhode Island. Overall, understanding the nuances of corporate law is crucial for businesses operating in any state, including Rhode Island. Professional legal counsel should always be sought for accurate and reliable guidance tailored to the jurisdiction in question.
Rhode Island Sections 302A.471 and 302A.473 of Minnesota Business Corporation Act
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A shareholder, beneficial owner, or holder of a voting trust certificate who has gained access under this section to any corporate record including the share register may not use or furnish to another for use the corporate record or a portion of the contents for any purpose other than a proper purpose.
(a) A shareholder shall not assert dissenters' rights as to less than all of the shares registered in the name of the shareholder, unless the shareholder dissents with respect to all the shares that are beneficially owned by another person but registered in the name of the shareholder and discloses the name and address ...
When written action is permitted to be taken by less than all directors, all directors shall be notified immediately of its text and effective date. Failure to provide the notice does not invalidate the written action.
An action required or permitted to be taken at a board meeting may be taken by written action signed, or consented to by authenticated electronic communication, by all of the directors.
An action required or permitted to be taken at a meeting of the shareholders may be taken without a meeting by written action signed, or consented to by authenticated electronic communication, by all of the shareholders entitled to vote on that action.
In discharging the duties of the position of director, a director may, in considering the best interests of the corporation, consider the interests of the corporation's employees, customers, suppliers, and creditors, the economy of the state and nation, community and societal considerations, and the long-term as well ...