Section 50.19 — Reports To The Commissioner.
50.19 REPORTS TO THE COMMISSIONER. Each savings bank shall submit the reports required of state banks pursuant to section 48.48 and such other information as the commissioner of commerce may require. History: (7719) RL s 3027; 1907 c 468 s 10; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; […]
Section 50.11 — Securities Held For Safekeeping; Safe Deposit Boxes; Limitation Of Liability.
50.11 SECURITIES HELD FOR SAFEKEEPING; SAFE DEPOSIT BOXES; LIMITATION OF LIABILITY. A savings bank may receive for safekeeping for its depositors obligations of the United States or its possessions or of a state or territory of the United States, or of any political subdivision of any such state or territory, and it may provide for, […]
Section 50.13 — Real Estate.
50.13 REAL ESTATE. A savings bank may purchase, hold, or convey land sold upon foreclosure of mortgages owned by it, or upon judgments or decrees in its favor, or in settlement of debts, or received in exchange as part of the consideration of real estate sold by it. Real estate so received in exchange shall […]
Section 50.14 — Authorized Securities.
50.14 AUTHORIZED SECURITIES. Subdivision 1. Definition. Except as it relates to the investment of trust funds by corporate trustees or by individual trustees, the term “authorized securities” whenever used in the statutes and laws of this state shall be understood as referring to the following described securities in which the directors of any savings bank […]
Section 50.145 — Authorized Investments; General Authority.
50.145 AUTHORIZED INVESTMENTS; GENERAL AUTHORITY. Any savings bank subject to the supervision of the commissioner of commerce of the state of Minnesota shall in addition to other investments authorized by law have the power to purchase and hold as investments such bonds and securities as are legal investments for state banks and trust companies in […]
Section 50.146 — Authorized Investments; Corporations.
50.146 AUTHORIZED INVESTMENTS; CORPORATIONS. Subdivision 1. General authority. In addition to other investments authorized by law, a savings bank may invest in the following: (a) The preferred stocks of any corporation organized under the laws of the United States or of any state, except banks, bank holding companies and trust companies, provided the net earnings […]
Section 50.1465 — Authorized Investments; Service Corporations.
50.1465 AUTHORIZED INVESTMENTS; SERVICE CORPORATIONS. Subdivision 1. Generally. In addition to other investments authorized by law, a savings bank may invest in the capital stock, obligations, or other securities of any corporation organized under the laws of this state if all or a majority of the capital stock of the corporation is owned by the […]
Section 50.147 — Authorized Investments; Student Loans.
50.147 AUTHORIZED INVESTMENTS; STUDENT LOANS. In addition to other investments authorized by law, a savings bank organized under the laws of this state may make student loans. Such loans may be secured or unsecured, and the lender may require a comaker or guaranty under a governmental student loan guarantee plan, or both. The borrower shall […]
Section 50.148 — Authorized Investments; Manufactured Home Loans.
50.148 AUTHORIZED INVESTMENTS; MANUFACTURED HOME LOANS. In addition to other investments authorized by law, a savings bank organized and operated pursuant to this chapter, may make loans upon the security of manufactured homes, and any equipment installed or to be installed therein, in an amount not exceeding $30,000 repayable in installments, and the installment payments […]
Section 50.1485 — Lending Authority.
50.1485 LENDING AUTHORITY. Subdivision 1. Generally. In addition to other investments authorized by law, a savings bank may make, purchase, or invest in: (a) loans secured by the pledge of policies of life insurance, the assignment of which is properly acknowledged by the insurer; (b) consumer loans, which may be unsecured or secured by personal […]