50.18 METHOD OF DETERMINING SURPLUS. In determining the percent of surplus held by any such bank, its interest paying stock, notes, and bonds shall be estimated at their market value; notes and bonds having not more than six months’ unpaid interest at their face, and real estate not above cost. As to stocks, bonds, and […]
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; […]
50.20 REPORT TO SHOW LIABILITIES. This report shall also state all its liabilities on the morning of January first, and show: (1) the amount due the depositors, including any dividend to be credited to them for the half year ending on that day; and (2) all other debts or claims against it which are or […]
50.212 SAVINGS BANK REGULATION. Subdivision 1. Commerce Department to control. The commissioner of commerce shall have charge of the execution of all laws relating to the savings banks chartered under the laws of Minnesota and relating to the business of those savings banks. Subd. 2. Commissioner supervision. The commissioner shall supervise the books, records, and […]
50.24 EXISTING BANKS CONFORMED; EXCEPTIONS. The powers, privileges, and duties conferred and imposed on any savings corporation heretofore organized by its charter or act of incorporation, are hereby abridged, enlarged, or modified, as each case may require, so that each such charter or act shall be conformed to the provisions hereof; and every such savings […]
50.245 BRANCHES; ACQUISITIONS. Subdivision 1. Authority for branch offices. A savings bank may establish any number of detached facilities as may be approved by the commissioner of commerce pursuant to sections 47.51 to 47.57. The savings bank shall not change the location of a detached facility without prior written approval of the commissioner of commerce. […]
50.25 BANKS ORGANIZED UNDER THE LAWS OF MINNESOTA; CAPITAL STOCK; AMENDMENT OF ARTICLES. A corporation which was incorporated and organized under the laws of Minnesota for the purpose of doing a savings bank business, may have capital stock of $100 per share, par value; provided, the minimum required capital shall not be less than $500,000. […]
50.28 DECLARATORY JUDGMENTS. At any time after a controversy has arisen between the commissioner of commerce and a savings bank with respect to a question of law or rule or with respect to a question involving immeasurable or irreparable damage to the savings bank, and before an administrative or judicial hearing, the savings bank or […]
