Minnesota § 556.07 - CORPORATE CHARTER, VACATION
Full text of Minnesota Minnesota Statutes § 556.07 — CORPORATE CHARTER, VACATION, with citation guidance and answers to common questions.
§ 556.07. CORPORATE CHARTER, VACATION
An action may be brought by the attorney general in the name of the state to vacate the charter or annul the existence of a corporation, other than municipal, whenever such corporation:
(1) offends against any act creating, altering, or renewing it;
(2) violates any provision of law whereby it forfeits its charter by abuse of its powers;
(3) forfeits its privileges or franchises by failure to exercise its powers;
(4) does or omits any act amounting to a surrender of its corporate rights, privileges, and franchises; or
(5) exercises a franchise or privilege not conferred upon it by law.
The attorney general shall bring action in every case of public interest, whenever the attorney general has reason to believe that any of these acts or omissions can be proved, and in every other case in which satisfactory security shall be given to indemnify the state against costs and expenses.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 556.07
What does Minnesota Statutes § 556.07 cover?
Section 556.07 ("CORPORATE CHARTER, VACATION") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 556.07?
A common citation format is "Minnesota Statutes § 556.07" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 556.07 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.