Minnesota § 51A.361 RESERVES

Minnesota Statutes

§ 51A.361 — RESERVES

Minnesota § 51A.361

PartBANKING

Ch. 51ASAVINGS ASSOCIATIONS

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Bluebook

Minn. Stat. § 51A.361 (2026).

Text

An association shall maintain reserves in the form of liquid assets, as defined in section51A.02, subdivision 34, at a level reasonably necessary to meet anticipated withdrawals, commitments, and loan demand. The commissioner of commerce may prescribe the required amount of reserves for any individual association from time to time based upon examination findings or other reports relating to the association that are available to the commissioner. Reserves for an individual association as prescribed by the commissioner pursuant to this section shall be enforced in accordance with sections46.24and46.30to46.33.

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An association shall maintain reserves in the form of liquid assets, as defined in section51A.02, subdivision 34, at a level reasonably necessary to meet anticipated withdrawals, commitments, and loan demand. The commissioner of commerce may prescribe the required amount of reserves for any individual association from time to time based upon examination findings or other reports relating to the association that are available to the commissioner. Reserves for an individual association as prescribed by the commissioner pursuant to this section shall be enforced in accordance with sections46.24and46.30to46.33.

Legislative History

1981 c 182 s 4;1982 c 424 s 130;1983 c 289 s 114subd 1;1984 c 655 art 1 s 92;1988 c 666 s 50;1996 c 414 art 1 s 44;1997 c 157 s 67;1997 c 187 art 3 s 10;1998 c 260 s 1