Managing Agent Law and Legal Definition

Managing agent is defined “as a person possessing and exercising the right of general control, authority, judgment, and discretion over the business or affairs of the corporation. The term was also defined by Minnesota Courts as: those agents who have charge and control of the business activities of the corporation or of some branch or department thereof, and who, in respect to the matters entrusted to them are vested with powers requiring the exercise of an independent judgment and discretion.” Kraemer v. Croix Mgmt. Co., 2002 U.S. Dist. LEXIS 23453 (D. Minn. Nov. 21, 2002)