Minnesota Code § 302A.557

LIABILITY OF SHAREHOLDERS FOR ILLEGAL DISTRIBUTIONS.
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A shareholder who receives a distribution made in violation of the provisions of section 302A.551 is liable to the corporation, its receiver or other person winding up its affairs, or a director under section 302A.559, subdivision 2 , but only to the extent that the distribution received by the shareholder exceeded the amount that properly could have been paid under section 302A.551 .
An action shall not be commenced under this section more than two years from the date of the distribution.

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