Minnesota Statutes
§ 48.56 — BANKING INSTITUTION MAY USE FEDERAL BANKING LAWS
Minnesota § 48.56
This text of Minnesota § 48.56 (BANKING INSTITUTION MAY USE FEDERAL BANKING LAWS) 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. § 48.56 (2026).
Text
Subdivision 1.General powers.
The board of directors of a banking institution may enter into a contract, incur an obligation, or generally do what is necessary or appropriate to make use of United States Code, title 12, section 1811, or any act or resolution of Congress enacted or resolved to aid, regulate, or safeguard banking institutions and their depositors.
Subd. 2.General rights and privileges.
Memberships, loans, subscriptions, contracts, grants, rights, or privileges that, under the act or resolution, are available to or enure to banking institutions, or their depositors, creditors, stockholders, receivers, or liquidators may be taken advantage of under this section.
Subd. 3.Purchase of FDIC securities.
The board may subscribe for and acquire securities of the Federal Deposit In
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Legislative History
(7658-7)1935 c 319 s 2;2000 c 427 s 7
Nearby Sections
15
§ 48.01
DEFINITIONS§ 48.03
SHARES§ 48.032
PREEMPTIVE RIGHTS§ 48.056
REVERSE STOCK SPLIT§ 48.06
BOARD OF DIRECTORS§ 48.09
DIVIDENDS; SURPLUS§ 48.11
CONTRACTS, HOW MADECite This Page — Counsel Stack
Bluebook (online)
Minnesota § 48.56, Counsel Stack Legal Research, https://law.counselstack.com/statute/mn/48/48.56.