Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1931-05-07
April 20, 1881.
CHAPTER 24I-H, F. No. %.

AN ACT authorizing the renewal OF
the period of corporate existence
of any cooperative creamery OF
cheese factory association whose
period of duration has expired less
than twenty-five years prior to the
passage hereof without renewal.
Be it enacted by the Legislature OF
the State of Minnesota:
Section 1. Any cooperative cream
cry or cheese factory association or
ganized prior to the year 1907 and
whose period of duration has expired
less than twenty-five years before the
passage of this act and which has
continued to carry on it's business
without a renewal of it's said period,
may renew the period of it's corporate
existence from the date of eXpira-
ton of said period of duration for
an additional term not exceeding
twenty years from the date of such
expiration, with the same force aEj
effect as if such renewal had been
effected before it's said period of
duration expired.
Sec. 2. Any such association desir-
ing to so renew it's corporate exist
ence shall adopt q resolution to that
effect by a majority vote of the
stock represented at meeting of the
stockholders of such association. held
for the purpose of acting on such re-
Inewal. Notice of such meeting shall
be given by the secretary of such as
ISOLATION, which notice shall state
the object and purpose of the meet
ing. and shall be published not less
than fifteen days nor more than thir-
ty days prior to the date of such
meeting in a newspaper published in
the municipality in which is located
the principal place of business of
such association. if such newspaper
there be. and if not, then in news
paper published at the county seat
of the county in which such principal
place of business is located. At such
meeting stockholders may vote in
person or by proxy. and a quorum
necessary to transact business shall
be the representatives. present and
voting, of at least thirty per cent OF
the issued and outstanding stock OF
said association, when such issued
and outstanding stock does not ex-
coed 200 shares, and when such is
sued and outstanding stock exceeds
200 shares, the quorum at such meet
ing necessary to transact business
shall be not less than twenty Der
cent of the issued and outstanding
stock of said association.
Sec. 3. Upon the adoption of res
olution as hereinbefore provided. the
proper officers of said association
shall cause to be filed for record in
the office of the register of deeds of
the county in which the principal
place of business of said association
is located, a certificate setting forth
the facts with regard to the adoption
of said resolution. and thereupon said
proceedings shall relate back to the
date of the expiration of the original
corporate period of said association.
and shall have the force and effect OF
a renewal of the corporate existence
of said association for the period OF
twenty years from the date of the
expiration of said original corporate
period, and any and all corporate acts
and contracts of such association
done Or entered into after the expira-
ton of said original period shall be,
and each hereby is, declared to be
legal and valid. Provided, however.
that the proceedings to so renew the
corporate existence of said associa-
ton shall be taken within six months
after the passage of this act.
Sec. 4. This act shall not apply to
any cooperative creamery or cheese
factory association the charter OF
which has been declared forfeited by
the final judgment of any court OF
competent jurisdiction in this state,
nor to any action or proceeding now
pending in any of the courts of this
state.
SEC. 5. This act shall take effect
ard be in force firm and after its
pA1sape.
Approved April 20. 1851.