Minnesota Administrative Rules
Agency 105 - Agriculture Department
Chapter 1500 - WHOLESALE PRODUCE DEALERS
Part 1500.1001 - PARENT COMPANY
Current through Register Vol. 49, No. 13, September 23, 2024
Subpart 1. Voting power.
A corporation, partnership, or association that directly, or indirectly through related entities, owns more than 50 percent of the voting power of the shares entitled to vote for directors of a subsidiary corporation is liable to a seller of agricultural commodities for any unpaid claim or contract performance claim of that subsidiary corporation.
Subp. 2. Management or control.
A corporation, partnership, or association that directly, or indirectly through related entities, provides more than 50 percent of the management or control of a subsidiary is liable to the seller of an agricultural commodity for any unpaid claim or contract performance claim of the subsidiary.
Statutory Authority: MS s 27.14
