EFFECT OF AMENDMENT.

317A.141 EFFECT OF AMENDMENT. § Subdivision 1.Effect on cause of action. An amendment does not affect an existing cause of action in favor of or against the corporation, a pending suit to which the corporation is a party, nor the existing rights of persons other than members. § Subd. 2.Effect of change of name. If the corporate name is changed by the amendment, a suit brought by or against the corporation under its former name does not abate for that reason. § Subd. 3.Effect of amendments restating articles. When effective under section 317A.151, an amendment restating the articles in their entirety supersedes the original articles and amendments to the original articles. § Subd. 4.Effect of amendments on charitable trust assets. Assets held by a corporation, including income or fees from services, are restricted to the uses and purposes for which the property was received and held. History: 1989 c 304 s 19; 1997 c 222 s 42