Minnesota § 47.55 EXISTING BANKING FACILITIES OR BRANCHES OF SAVINGS ASSOCIATIONS

Minnesota Statutes

§ 47.55 — EXISTING BANKING FACILITIES OR BRANCHES OF SAVINGS ASSOCIATIONS

Minnesota § 47.55

PartBANKING

Ch. 47FINANCIAL CORPORATIONS

This text of Minnesota § 47.55 (EXISTING BANKING FACILITIES OR BRANCHES OF SAVINGS ASSOCIATIONS) 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. § 47.55 (2026).

Text

Subdivision 1.Banking facilities in operation prior to May 1, 1971.
A bank may retain and operate one detached facility as it may have had in operation prior to May 1, 1971 without requirement of approval hereunder.

Subd. 2.Facilities of banks or branches of savings associations in operation prior to acquisition.
The purchase of assets and assumption of liabilities of an existing detached facility of another bank or branch of a savings association or savings bank must follow the notice and approval procedures in section47.54to establish and maintain a new detached facility of the acquiring bank at that location but need not obtain the consent of other banks as required by section47.52.

Free access — add to your briefcase to read the full text and ask questions with AI

Subdivision 1.Banking facilities in operation prior to May 1, 1971.
A bank may retain and operate one detached facility as it may have had in operation prior to May 1, 1971 without requirement of approval hereunder.

Subd. 2.Facilities of banks or branches of savings associations in operation prior to acquisition.
The purchase of assets and assumption of liabilities of an existing detached facility of another bank or branch of a savings association or savings bank must follow the notice and approval procedures in section47.54to establish and maintain a new detached facility of the acquiring bank at that location but need not obtain the consent of other banks as required by section47.52.