Minnesota § 47.521 CLOSED BANK LOCATION; AUTHORIZATION

Minnesota Statutes

§ 47.521 — CLOSED BANK LOCATION; AUTHORIZATION

Minnesota § 47.521

PartBANKING

Ch. 47FINANCIAL CORPORATIONS

This text of Minnesota § 47.521 (CLOSED BANK LOCATION; AUTHORIZATION) 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. § 47.521 (2026).

Text

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 section47.52do not apply to an application to establish a detached facility in the same locality. In the event the commissioner has determined that it is necessary and in the public interest to act immediately on the application, the commissioner may waive the requirements of section47.54.

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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 section47.52do not apply to an application to establish a detached facility in the same locality. In the event the commissioner has determined that it is necessary and in the public interest to act immediately on the application, the commissioner may waive the requirements of section47.54.