Minnesota Statutes
§ 462D.05 — FINANCIAL INSTITUTIONS
Minnesota § 462D.05
JurisdictionMinnesota
PartLOCAL GOVERNMENT POLICE POWERS
Ch. 462DFIRST-TIME HOME BUYER SAVINGS ACCOUNT ACT
This text of Minnesota § 462D.05 (FINANCIAL INSTITUTIONS) 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. § 462D.05 (2026).
Text
(a)A financial institution is not required to take any action to ensure compliance with this chapter, including to:
(1)designate an account, designate qualified beneficiaries, or modify the financial institution's account contracts or systems in any way;
(2)track the use of money withdrawn from a first-time home buyer savings account;
(3)allocate funds in a first-time home buyer savings account among joint account holders or multiple qualified beneficiaries; or
(4)report any information to the commissioner or any other government that is not otherwise required by law.
(b)A financial institution is not responsible or liable for:
(1)determining or ensuring that an account satisfies the requirements of this chapter or that its funds are used for eligible costs; or
(2)reporting or remi
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Legislative History
1Sp2017 c 1 art 1 s 40
Nearby Sections
6
§ 462D.01
CITATION§ 462D.02
DEFINITIONS§ 462D.03
ESTABLISHMENT OF ACCOUNTS§ 462D.04
ACCOUNT HOLDER RESPONSIBILITIES§ 462D.05
FINANCIAL INSTITUTIONSCite This Page — Counsel Stack
Bluebook (online)
Minnesota § 462D.05, Counsel Stack Legal Research, https://law.counselstack.com/statute/mn/462D/462D.05.