Section 46.08 — Employees.
46.08 EMPLOYEES. Subdivision 1. Assistant commissioner, examiners and other employees. The commissioner of commerce may appoint an assistant commissioner and such examiners, assistant examiners, stenographers, and such other employees as may be necessary to carry out the duties and responsibilities entrusted, subject to such rules as may be established by civil service with regard to […]
Section 46.09 — Department Of Commerce Examiners Or Employees Not To Maintain Interest In Supervised Institutions.
46.09 DEPARTMENT OF COMMERCE EXAMINERS OR EMPLOYEES NOT TO MAINTAIN INTEREST IN SUPERVISED INSTITUTIONS. Subdivision 1. Prohibition. No person who is an examiner of financial institutions or other officer of the Department of Commerce directly responsible for the supervision of financial institutions shall be interested, either directly or indirectly, as a stockholder, director, officer, trustee, […]
Section 46.10 — Penalty For Violation.
46.10 PENALTY FOR VIOLATION. Any person violating the provisions of section 46.09 shall be disqualified from holding any office or employment in the Department of Commerce and shall be removed from such office or employment by the commissioner of commerce immediately upon knowledge of the violation. History: (5328-1) 1931 c 43 s 2; 1983 c […]
Section 46.11 — Examiners’ Districts.
46.11 EXAMINERS’ DISTRICTS. For the purpose of the better administration of the department, the commissioner of commerce shall divide the counties of the state into as many districts for the purpose of supervision as may be practical, taking into consideration the volume of work represented and the number of examiners or assistants available, and shall […]
Section 46.12 — Reports Of Examiners.
46.12 REPORTS OF EXAMINERS. Each examiner appointed under Laws 1909, chapter 201, as amended, shall make report to the commissioner of commerce immediately after the completion of an examination of the actual financial condition of the institution examined, with such recommendations and suggestions as the examiner may deem advisable. History: (5330) 1909 c 201 s […]
Section 46.131 — Assessments And Fees For Financial Institutions.
46.131 ASSESSMENTS AND FEES FOR FINANCIAL INSTITUTIONS. Subdivision 1. Examination fee authority. Examination fees of the Department of Commerce shall be assessed against financial institutions and residential PACE administrators, as defined in section 216C.435, subdivision 10a, in accordance with the provisions of this section. Subd. 2. Assessment authority. Each financial institution governed by chapters 46 […]
Section 46.14 — Examiners’ Powers Enlarged.
46.14 EXAMINERS’ POWERS ENLARGED. The examiner in charge of liquidation in the Department of Commerce is hereby authorized to sign the name of the commissioner of commerce and to act for the commissioner in all matters connected with the liquidation of insolvent corporations under the supervision and control of the commissioner of commerce, with the […]
Section 46.17 — Salary Of Examiner In Charge Of Liquidation.
46.17 SALARY OF EXAMINER IN CHARGE OF LIQUIDATION. The commissioner of commerce shall fix the salary of the examiner in charge of liquidation appointed by the commissioner, but not to exceed the salary of a bank examiner in the classified service of the state and the same shall be paid out of the funds of […]
Section 46.21 — Destruction Of Certain Records.
46.21 DESTRUCTION OF CERTAIN RECORDS. Subdivision 1. Reports, correspondence. After ten years, the commissioner of commerce may dispose of any examination report, call report of the condition of state banks, earnings and dividend report, oath of office of director, examining committee report, or any correspondence with reference to any examination report. After a period of […]
Section 46.044 — Bank Charters.
46.044 BANK CHARTERS. Subdivision 1. Issuance and conditions. An application for a bank charter must be granted if (1) the applicants are of good moral character and financial integrity, (2) there is a reasonable public demand for this bank in this location, (3) the probable volume of business in this location is sufficient to insure […]