47.14 CERTIFICATE; HOW ACCOMPANIED. The certificate of incorporation, when presented to the commissioner of commerce, shall be accompanied, in the case of a bank, with the certificate of a solvent bank in this state of the deposit therein, in cash, to the credit of the proposed bank, and payable upon its order when countersigned by […]
47.15 BYLAWS. Subdivision 1. Adoption of bylaws. Initial bylaws may be adopted pursuant to section 302A.171 by the incorporators. If not adopted by the incorporators, the bylaws must be adopted by the first board. Unless reserved by the articles to the shareholders, the power to adopt, amend, or repeal the bylaws is vested in the […]
47.16 CERTIFICATION BY COMMISSIONER. Subdivision 1. Filing. The certificate of a corporation must be filed for record with the commissioner of commerce. If the commissioner of commerce finds that it conforms to law and that the required fee has been paid, the commissioner of commerce must record it and certify that fact on it. Subd. […]
47.171 CERTIFICATES OF INCORPORATION, AMENDMENT; EXCEPTIONS. The certificate of incorporation of a financial corporation organized and existing under the laws of this state may be amended to change its name; to increase or decrease its capital stock; to change the number and, subject to section 48.02, the par value of the shares of its capital […]
47.172 RESTATED CERTIFICATES OF INCORPORATION. Subdivision 1. Procedure. A financial corporation may by action taken in the same manner required for amendment of certificates of incorporation adopt a restated certificate of incorporation consisting of the certificate of incorporation as amended to date. The restated certificate of incorporation may be adopted in connection with an amendment […]
47.18 “CORPORATION”; “AGENCY.” For the purpose of this section and section 47.19, the term “corporation” shall be construed to mean any bank, savings bank, trust company, insurance company, or savings association organized under the laws of this state; and the term “agency” shall be construed to mean the federal home loan bank of the district […]
47.19 CORPORATION MAY BE MEMBER OR STOCKHOLDER OF FEDERAL AGENCY. Any corporation is hereby empowered and authorized to become a member of, or stockholder in, any such agency, and to that end to purchase stock in, or securities of, or deposit money with, such agency and/or to comply with any other conditions of membership or […]
