March 14 2017 0Comment

A New Year, a New LLC: Changes in MN Law

EFFECTIVE JANUARY 1, 2018!!!

In 2015, the Minnesota Legislature enacted changes to the laws governing LLCs formed and operated in Minnesota.  The change will repeal Minn. Statutes §322B and enact §322C, aligning Minnesota law with some national standards for LLC governance.

Any LLC formed after August 1, 2015 was most likely formed under the new set of governing statutes.  Those formed prior are governed by the soon-to-be obsolete rules and guidelines.

So, if you formed your business before August of 2015, what does this mean for you?

Here is a helpful article from the MN Secretary of State’s office covering the changes and how it may affect your business: NOTICE: Owners of pre-2015 limited liability companies in Minnesota: Upcoming changes to the law will affect your business.

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