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Contribution agreement

A contribution agreement must be written and signed to be enforceable against the would-be contributor; its default six-month irrevocable period can be changed by the agreement or the required unanimous consent.

Verified against sources: October 15, 2026Last edited: October 16, 2026

A contribution agreement, whether made before or after the cooperative is formed, is not enforceable against the would-be contributor unless it is in writing and signed by that person § 308B.711, subd. 1 P1. Its default six-month irrevocable period may be changed in the agreement or by consent of all would-be contributors and, if already in existence, the cooperative § 308B.711, subd. 2 P1. The section also sets remedies on default; read it before drafting § 308B.711, subd. 4 P1.

See Contribution.

Statute sections referenced

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)

glossary

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