Section 48.99 — Special Acquisitions Authorized.
48.99 SPECIAL ACQUISITIONS AUTHORIZED. Subdivision 1. Application criteria for approval. Pursuant to the present requirement of the United States Code, title 12, section 1842(d) and notwithstanding any other provision of state law, an out-of-state bank holding company, or any subsidiary of a bank holding company, may acquire a bank located in this state where the […]
Section 48.992 — Exemption.
48.992 EXEMPTION. Subdivision 1. Resolution. The board of directors of a bank or a bank holding company located in this state may adopt a resolution before July 1, 1987, to exempt the bank or bank holding company from section 48.93. If the board of directors adopts the resolution and files a certified copy of it […]
Section 48.88 — Violations; Penalties.
48.88 VIOLATIONS; PENALTIES. Subdivision 1. Criminal penalty. Any officer or employee of a bank or trust company who violates the provisions of sections 48.15 and 48.16 to 48.20, or who consents thereto or connives thereat, shall be guilty of a gross misdemeanor. Subd. 2. [Repealed, 1994 c 382 s 15] History: (7699-13 1/2a, 7699-19) 1927 […]
Section 48.89 — Clerical Service Corporation.
48.89 CLERICAL SERVICE CORPORATION. Subdivision 1. Definitions. For the purposes of this section the following terms defined in this subdivision have the meanings given them. (a) The term “commissioner” means the commissioner of commerce. (b) The term “clerical services” means services such as check and deposit, sorting and posting, computation and posting of interest and […]
Section 48.892 — Clerical Services Offices.
48.892 CLERICAL SERVICES OFFICES. A bank may perform clerical services, as defined in section 48.89, subdivision 1, for itself at an off-premises data processing and storage center located within the state if the bank furnishes assurances satisfactory to the commissioner that the performances of those services will be subject to regulation and examination by the […]
Section 48.90 — Legislative Intent.
48.90 LEGISLATIVE INTENT. Subdivision 1. Express intent. It is the express intention of the Minnesota legislature to act pursuant to the United States Code, title 12, section 1842(d), as amended by title I of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 to provide for interstate banking on a nationwide basis and to […]
Section 48.91 — Title.
48.91 TITLE. Sections 48.90 to 48.99 may be cited as the “Interstate Banking Act.” History: 1986 c 339 s 5; 1995 c 202 art 4 s 8
Section 48.92 — Definitions.
48.92 DEFINITIONS. Subdivision 1. Terms. When used in sections 48.90 to 48.99, the terms defined in this section have the meanings given them, unless their context requires a different meaning. Subd. 2. Control. “Control,” with respect to a bank holding company, bank, or bank to be organized pursuant to chapters 46, 47, 48, and 300, […]
Section 48.93 — Acquisition Procedure.
48.93 ACQUISITION PROCEDURE. Subdivision 1. Application. An out-of-state bank holding company may, through a purchase of stock or assets of a bank, or through a purchase of stock or assets of or merger with a bank holding company, acquire control in an existing bank or banks whose home state is Minnesota if it meets the […]
Section 48.96 — Supervision.
48.96 SUPERVISION. The department may enter into cooperative and reciprocal agreements with federal or state regulatory authorities responsible for supervision of out-of-state bank holding companies for exchange or acceptance of reports of examination and other records from the authorities in lieu of conducting its own examinations. The department may enter into joint actions with federal […]