Minnesota § 51A.58 INTERSTATE BRANCHING

Minnesota Statutes

§ 51A.58 — INTERSTATE BRANCHING

Minnesota § 51A.58

PartBANKING

Ch. 51ASAVINGS ASSOCIATIONS

This text of Minnesota § 51A.58 (INTERSTATE BRANCHING) 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. § 51A.58 (2026).

Text

An association, whether or not the subsidiary of a savings and loan holding company, may, by acquisition, merger, purchase and assumption of some or all of the assets and liabilities, or consolidation, establish or operate branch offices in any reciprocating state, and a savings association chartered in any reciprocating state may establish or operate branch offices in this state by acquisition, merger, purchase, and assumption of some or all of the assets or liabilities or consolidation. A savings and loan holding company with its headquarters in this state may acquire by direct or indirect ownership or control the voting shares of a savings and loan holding company, savings association, or savings bank located in any reciprocating state, and a savings and loan holding company with its he

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An association, whether or not the subsidiary of a savings and loan holding company, may, by acquisition, merger, purchase and assumption of some or all of the assets and liabilities, or consolidation, establish or operate branch offices in any reciprocating state, and a savings association chartered in any reciprocating state may establish or operate branch offices in this state by acquisition, merger, purchase, and assumption of some or all of the assets or liabilities or consolidation. A savings and loan holding company with its headquarters in this state may acquire by direct or indirect ownership or control the voting shares of a savings and loan holding company, savings association, or savings bank located in any reciprocating state, and a savings and loan holding company with its headquarters in a reciprocating state, may acquire by direct or indirect ownership or control the voting shares of a savings and loan holding company, a savings association, or savings bank located in this state, and may acquire and merge with a savings and loan holding company with its headquarters in this state. For the purposes of this section, "reciprocating state" is a state that authorizes the establishment of branch offices in that state by an association located in this state, and the acquisition of savings associations and savings banks located in that state by a savings and loan holding company with its headquarters in this state, under conditions no more restrictive than those imposed by the laws of Minnesota as determined by the commissioner of commerce.
The commissioner of commerce shall adopt rules to provide that procedural requirements equivalent to those contained in sections48.90to48.99apply to reciprocal interstate branching and acquisitions by savings associations.

Legislative History

1986 c 339 s 16;1Sp1986 c 3 art 2 s 27;1987 c 349 art 1 s 26;1994 c 484 s 2;1995 c 202 art 1 s 14,25;1996 c 414 art 1 s 44;1997 c 157 s 67;1998 c 260 s 1