Minnesota § 5.26 - GOOD STANDING
Full text of Minnesota Minnesota Statutes § 5.26 — GOOD STANDING, with citation guidance and answers to common questions.
§ 5.26. GOOD STANDING
Subdivision 1.Definition.
"Good standing" means that a business entity or other filer of an assumed name or trademark filing has complied with all of the filing and registration requirements with the Office of the Secretary of State described in the entity's governing chapter. A business entity or other filer of an assumed name or trademark filing that has submitted, or on whose behalf has been submitted, a payment order or item that is rejected or dishonored, is not in good standing until the payment or item is honored or the delinquent amount is paid. The secretary of state shall note on the record of the business entity whether it is in good standing.
Subd. 2.Effect of status.
(a) When a business entity is in good standing it may amend its organizing document that is on file with the secretary of state.
(b) When a business entity is in good standing, the secretary of state shall issue a certificate of good standing as described in section 5.12.
(c) A business entity that is not in good standing may participate in a merger where it does not survive the merger transaction or may dissolve or terminate its existence. It may not amend its organizing document or file other documents with the secretary of state, other than documents required to return the business entity to good standing.
(d) When a business entity is not in good standing, the secretary of state shall issue a certificate of not in good standing as described in section 5.12. The secretary of state shall not issue a certificate of good standing with respect to a business entity that is not in good standing.
Subd. 3.Reinstatement.
Reinstatement of good standing is controlled by the provisions of the chapter that governs the business entity.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 5.26
What does Minnesota Statutes § 5.26 cover?
Section 5.26 ("GOOD STANDING") 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 § 5.26?
A common citation format is "Minnesota Statutes § 5.26" (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 § 5.26 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.