1.1 A bill for an act
1.2 relating to commerce; setting payment term to 45 days for certain corporations;
1.3 proposing coding for new law in Minnesota Statutes, chapter 325E.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. [325E.251] REMITTANCE OF PAYMENT.
1.6 (a) If a corporation's stock is a federal covered security, as specified in United States
1.7Code, title 15, section 77r(b), the corporation must remit payment for goods and services
1.8within 45 days of receiving the goods or services.
1.9 (b) For purposes of this section, "corporation" includes a subsidiary that is wholly owned
1.10by a corporation subject to paragraph (a).
1Section 1.
REVISOR RSI/EN 25-0517104/02/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 3246
NINETY-FOURTH SESSION
Authored by Norris04/25/2025
The bill was read for the first time and referred to the Committee on Commerce Finance and Policy