Minnesota § 48.28 LIQUIDATION UNLESS DEPOSITS ARE REDUCED

Minnesota Statutes

§ 48.28 — LIQUIDATION UNLESS DEPOSITS ARE REDUCED

Minnesota § 48.28

PartBANKING

Ch. 48BANKS

This text of Minnesota § 48.28 (LIQUIDATION UNLESS DEPOSITS ARE REDUCED) 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. § 48.28 (2026).

Text

If any such bank or trust company shall violate the provisions of Minnesota Statutes 1945, section48.27, as amended, the commissioner of commerce may take possession thereof and liquidate such corporation in accordance with law, unless said bank or trust company shall within 90 days after notice from the commissioner of commerce reduce its deposits to the amount allowed by law or increase its capital stock accordingly.

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If any such bank or trust company shall violate the provisions of Minnesota Statutes 1945, section48.27, as amended, the commissioner of commerce may take possession thereof and liquidate such corporation in accordance with law, unless said bank or trust company shall within 90 days after notice from the commissioner of commerce reduce its deposits to the amount allowed by law or increase its capital stock accordingly.