Business entity
A business entity is a company, LLC, LLP or other legal entity or association, domestic or foreign, as chapter 308B uses the term.
A business entity is a company, limited liability company, limited liability partnership or other legal entity, domestic or foreign, or an association or body vested with the power or function of a legal entity.
Statutory definition#
This is a term defined by statute. Section 308B.005, subdivision 7, defines it for purposes of chapter 308B P1, subd. 7. Our paraphrase is above; the statute's own words control and are in § 308B.005.
Statute sections referenced
- § 308B.005 DEFINITIONS.
Related
Sources
- P1 Minnesota Statutes, Chapter 308B (Cooperative Associations), Office of the Revisor of Statutes, State of Minnesota. revisor.mn.gov (primary; accessed October 15, 2026)