Over the years, as a business lawyer in St. Paul, I have had questions from my clients about whether they are supposed to register their assumed name with the Minnesota Secretary of State. In this short essay, I briefly address this issue. Generally, pursuant to Minn. Stat. §333.01, Subd. 1, any individual, corporation, limited partnership [...]
It is conventional wisdom that forming a Limited Liability Company (“LLC”) in Minnesota is not hard. Furthermore, a lot of people believe that, in order to form an LLC, the only (and the easiest) thing to do is to file the Articles of Organizations – a one-page fill-in form prepared by the Secretary of State [...]
An applicant for a money transmitter license in Minnesota must comply with Minn. Stat. §53B.05 net worth requirements. Under Minnesota law, each licensee engaging in money transmission in three or fewer locations in the state, either directly or through authorized delegates, must have a net worth of at least $25,000. However, if a licensee engages [...]
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