Minnesota § 60A.091 DEFINITION; QUALIFIED UNITED STATES FINANCIAL INSTITUTION

Minnesota Statutes

§ 60A.091 — DEFINITION; QUALIFIED UNITED STATES FINANCIAL INSTITUTION

Minnesota § 60A.091

PartINSURANCE

Ch. 60AGENERAL INSURANCE POWERS

This text of Minnesota § 60A.091 (DEFINITION; QUALIFIED UNITED STATES FINANCIAL INSTITUTION) 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. § 60A.091 (2026).

Text

For purposes of sections60A.092and60A.093, "qualified United States financial institution" means an institution that:

(1)is organized or, in the case of a United States office of a foreign banking organization, licensed, under the laws of the United States or any state;

(2)is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies; and

(3)is a member of the Federal Deposit Insurance Corporation, or the National Credit Union Administration.

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For purposes of sections60A.092and60A.093, "qualified United States financial institution" means an institution that:
(1) is organized or, in the case of a United States office of a foreign banking organization, licensed, under the laws of the United States or any state;
(2) is regulated, supervised, and examined by federal or state authorities having regulatory authority over banks and trust companies; and
(3) is a member of the Federal Deposit Insurance Corporation, or the National Credit Union Administration.