Minnesota Statutes
§ 46.29 — BOARD OF DIRECTORS OR TRUSTEES, LACK OF QUORUM, TEMPORARY DIRECTORS OR TRUSTEES
Minnesota § 46.29
This text of Minnesota § 46.29 (BOARD OF DIRECTORS OR TRUSTEES, LACK OF QUORUM, TEMPORARY DIRECTORS OR TRUSTEES) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Minn. Stat. § 46.29 (2026).
Text
If at any time because of the suspension or removal of one or more directors or trustees pursuant to sections46.23to46.33, the board of directors or trustees of an institution has less than a quorum of directors or trustees not so suspended or removed, all powers and functions vested in, or exercisable by, the board shall vest in and be exercisable by the directors or trustees of the board not so suspended or removed until such time as there is a quorum of the board of directors or trustees. If all of the directors or trustees of an institution have been suspended or removed, the commissioner shall appoint persons to serve temporarily as directors or trustees, pending the termination of the suspensions or removals, or until such time as their successors are duly elected and take office.
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Legislative History
1978 c 544 s 4
Nearby Sections
15
§ 46.01
POWERS§ 46.041
BANK APPLICATIONS§ 46.044
BANK CHARTERS§ 46.045
MANDATORY INSURANCE OF ACCOUNTS§ 46.046
DEFINITIONS§ 46.048
NOTICE OF PROPOSED ACQUISITION§ 46.07
RECORDS§ 46.08
EMPLOYEES§ 46.09
DEPARTMENT OF COMMERCE EXAMINERS OR EMPLOYEES NOT TO MAINTAIN INTEREST IN SUPERVISED INSTITUTIONS§ 46.10
PENALTY FOR VIOLATION§ 46.11
EXAMINERS' DISTRICTSCite This Page — Counsel Stack
Bluebook (online)
Minnesota § 46.29, Counsel Stack Legal Research, https://law.counselstack.com/statute/mn/46/46.29.