Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
302A.331 CONTRACT RIGHTS.
The election or appointment of a person as an officer or agent does not, of itself, create
contract rights. A corporation may enter into a contract with an officer or agent for a period of
time if, in the board's judgment, the contract would be in the best interests of the corporation. The
fact that the contract may be for a term longer than the terms of the directors who authorized or
approved the contract does not make the contract void or voidable.
History: 1981 c 270 s 51
The election or appointment of a person as an officer or agent does not, of itself, create
contract rights. A corporation may enter into a contract with an officer or agent for a period of
time if, in the board's judgment, the contract would be in the best interests of the corporation. The
fact that the contract may be for a term longer than the terms of the directors who authorized or
approved the contract does not make the contract void or voidable.
History: 1981 c 270 s 51
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Revisor of Statutes