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Archived Annual Reports

2007-08 Annual Report

The Business Law Section had a strong 2007-2008 fiscal year on a number of fronts including the following:

1.         Legislation.  The Section initiated and sponsored legislation to permit non-profit LLCs to be formed in Minnesota from and after 2009.  The legislation was enacted in the 2008 legislative session.  This was the culmination of several years of effort by several Section committees and involved significant discussions with the Attorney General’s office and various legislative contacts.  The legislation is effective for non-profit LLCs formed after January 1, 2009.  We are hopeful of amending the legislation in the 2009 session to permit LLCs formed prior to 2009 to elect non-profit status.

The Business Law Section was also responsible for enacting legislation in the 2008 session updating and amending relevant provisions of the Minnesota Business Corporation Act (Chapter 302A) and the Minnesota Limited Liability Company (Chapter 322B).

2.         Pro Bono Activities.  The Business Law Section studied the need for additional resources for minority business, microbusiness and small non-profit interests.  Working closely with the existing LegalCorps organization, the Section formed a Business Pro Bono Committee with a charge to identify and address needs within the minority business, microbusiness and small non-profit industries that are not being addressed through currently available resources. 

3.         Continuing Legal Education.  The Business Law Section sponsored a number of luncheon CLE courses during the past year, including excellent presentations by the UCC Committee and the Banking Law Committee (i.e., the Banking Law Institute).  The Non-Profit Corporations Committee also co-hosted an excellent seminar pertaining to the status of real property tax exemptions for non-profits.  Finally, as always, the Business Law Section played a significant planning role in connection with the annual Business Law Institute co-sponsored with Minnesota CLE.

The Business Law Section continues to welcome participation by interested persons and looks forward to providing continuing services and support to Business Law Section members and the greater Bar as a whole.

Respectfully submitted,

Lloyd G. Kepple
Chair, 2007-2008


- Last Updated 08/06/08-