47.51 DETACHED BANKING FACILITIES; DEFINITIONS. As used in sections 47.51 to 47.57: “Extension of the main banking house” means any structure or stationary mechanical device serving as a drive-in or walk-up facility, or both, which is located within 1,500 feet of the main banking house or detached facility, the distance to be measured in a […]
47.52 AUTHORIZATION. (a) With the prior approval of the commissioner, any bank doing business in this state may establish and maintain detached facilities provided the facilities are located within: (1) the municipality in which the principal office of the applicant bank is located; or (2) 5,000 feet of its principal office measured in a straight […]
47.521 CLOSED BANK LOCATION; AUTHORIZATION. Where the commissioner has determined that an existing state bank or national banking association is about to fail or has failed and it is in the public interest to prevent the loss of banking services in the community affected, the limitations on location and number of detached facilities in section […]
47.53 FUNCTIONS OF A FACILITY. A detached facility may provide any service or perform any function that may be offered or performed at the bank’s main banking house. History: 1971 c 855 s 3; 1977 c 378 s 3; 1980 c 468 s 1
47.54 NOTICES AND APPROVAL PROCEDURES. Subdivision 1. Application. Any bank desiring to establish a detached facility shall execute and acknowledge a written application in the form prescribed by the commissioner and shall file the application in the commissioner’s office with a fee of $500. The applicant shall within 30 days of the receipt of the […]
47.55 EXISTING BANKING FACILITIES OR BRANCHES OF SAVINGS ASSOCIATIONS. Subdivision 1. Banking facilities in operation prior to May 1, 1971. A bank may retain and operate one detached facility as it may have had in operation prior to May 1, 1971 without requirement of approval hereunder. Subd. 2. Facilities of banks or branches of savings […]
47.56 TRANSFER OF LOCATION. The location of a detached facility transferred to another location outside of a radius of three miles measured in a straight line is subject to the same procedures and approval as required hereunder for establishing a new detached facility. The location of a detached facility transferred to another location within the […]
47.561 IDENTIFICATION OF DETACHED FACILITY. A detached facility must be properly identified at its location in a manner which includes the name of the parent bank. A detached facility in existence on March 19, 1982 must comply with this section by December 31, 1982. History: 1982 c 473 s 7
47.57 VIOLATION; PENALTIES. A violation of sections 47.51 to 47.57 shall be subject to penalties applicable to violations of laws affecting banks. In addition, a violation of sections 47.51 to 47.57 may be enjoined by a civil action for injunction by any aggrieved bank. History: 1971 c 855 s 7
