Corporation and limited liability company powers related to election activity prohibited.

This bill prohibits corporations and limited liability companies in Minnesota from participating in election activities, which are defined as spending money or resources to support or oppose candidates, political parties, or ballot measures. The law clarifies that these business entities do not have the legal power to engage in such political spending, even if their governing documents or state laws might otherwise imply such authority. Any corporate actions taken that violate this prohibition would be considered unauthorized and could be challenged in court, potentially leading to contracts being set aside. The legislation applies to both domestic and foreign corporations operating in Minnesota and updates multiple state statutes to establish these limitations clearly.