Minnesota LLC Dilemma

Any LLC formed or qualified after August 1, 2015 will be governed under Minnesota’s new LLC statute. Because the new statute does not allow foreign LLCs to file an amendment to their authority, foreign LLCs wishing to change their name must withdraw and requalify under the new name. Similarly, in order to evidence a merger, foreign LLCs must withdraw. The Minnesota legislature is working to address this issue through a statutory amendment. LLCs formed or qualified before August 1, 2015 will be governed under the old statute until January 1, 2018 and can still amend their authority up to that point.