Title Minnesota Statutes, Minnesota Statutes

46.044 BANK CHARTERS. § Subdivision 1.Issuance and conditions. An application for a bank charter must be granted if (1) the applicants are of good moral character and financial integrity, (2) there is a reasonable public demand for this bank in this location, (3) the probable vol…

46.045 MANDATORY INSURANCE OF ACCOUNTS. § Subdivision 1.Continuing requirement. Every bank shall at all times maintain in effect insurance of its deposits by the Federal Deposit Insurance Corporation, an agency of this state or a federal agency established for the purpose of insu…

46.046 DEFINITIONS. § Subdivision 1.Words, terms, and phrases. Unless the language or context clearly indicates that a different meaning is intended, the word defined in subdivision 2, for the purposes of sections 46.041 to 46.044, shall be given the meaning subjoined to it; and …

46.048 NOTICE OF PROPOSED ACQUISITION. § Subdivision 1.Requirement. Whenever a change in the outstanding voting stock of a banking institution will result in control or in a change in the control of the banking institution, the person acquiring control of the banking institution,…

46.05 SUPERVISION OVER FINANCIAL INSTITUTIONS. Every state bank, savings bank, trust company, savings association, debt management services provider, debt settlement services provider, and other financial institutions shall be at all times under the supervision and subject to the…

46.06 REFUSAL TO OBEY DIRECTIONS OF COMMISSIONER. Every person who shall refuse or neglect to obey any lawful direction or order of the commissioner of commerce; withhold any information, book, record, paper or other thing called for by the commissioner for the purpose of examina…

46.07 RECORDS. § Subdivision 1.Department records. The commissioner of commerce shall keep all proper records and files pertaining to the duties and work of that office. § Subd. 2.Confidential records. The commissioner shall divulge facts and information obtained in the course of…

46.08 EMPLOYEES. § Subdivision 1.Assistant commissioner, examiners and other employees. The commissioner of commerce may appoint an assistant commissioner and such examiners, assistant examiners, stenographers, and such other employees as may be necessary to carry out the duties …

46.09 DEPARTMENT OF COMMERCE EXAMINERS OR EMPLOYEES NOT TO MAINTAIN INTEREST IN SUPERVISED INSTITUTIONS. § Subdivision 1.Prohibition. No person who is an examiner of financial institutions or other officer of the Department of Commerce directly responsible for the supervision of …

46.10 PENALTY FOR VIOLATION. Any person violating the provisions of section 46.09 shall be disqualified from holding any office or employment in the Department of Commerce and shall be removed from such office or employment by the commissioner of commerce immediately upon knowled…

46.11 EXAMINERS' DISTRICTS. For the purpose of the better administration of the department, the commissioner of commerce shall divide the counties of the state into as many districts for the purpose of supervision as may be practical, taking into consideration the volume of work …

46.12 REPORTS OF EXAMINERS. Each examiner appointed under Laws 1909, chapter 201, as amended, shall make report to the commissioner of commerce immediately after the completion of an examination of the actual financial condition of the institution examined, with such recommendati…

46.131 ASSESSMENTS AND FEES FOR FINANCIAL INSTITUTIONS. § Subdivision 1.Examination fee authority. Examination fees of the Department of Commerce shall be assessed against financial institutions and residential PACE administrators, as defined in section 216C.435, subdivision 10a,…

46.14 EXAMINERS' POWERS ENLARGED. The examiner in charge of liquidation in the Department of Commerce is hereby authorized to sign the name of the commissioner of commerce and to act for the commissioner in all matters connected with the liquidation of insolvent corporations unde…

46.17 SALARY OF EXAMINER IN CHARGE OF LIQUIDATION. The commissioner of commerce shall fix the salary of the examiner in charge of liquidation appointed by the commissioner, but not to exceed the salary of a bank examiner in the classified service of the state and the same shall b…

46.21 DESTRUCTION OF CERTAIN RECORDS. § Subdivision 1.Reports, correspondence. After ten years, the commissioner of commerce may dispose of any examination report, call report of the condition of state banks, earnings and dividend report, oath of office of director, examining com…

46.23 UNSAFE PRACTICES; DEFINITIONS. § Subdivision 1.Scope. For purposes of sections 46.23 to 46.33, the following terms shall have the meanings here given them. § Subd. 2.Cease and desist order which has become final; order which has become final. "Cease and desist order which h…

46.24 CEASE AND DESIST PROCEEDINGS; INJUNCTIVE RELIEF. § Subdivision 1.Notice of charges, issuance, contents; hearing; cease and desist order, issuance, service, contents. If in the opinion of the commissioner any institution or a director, officer, employee, agent or other perso…

46.26 VIOLATIONS BY DIRECTORS, TRUSTEES, OR OFFICERS. § Subdivision 1.Notice of intent to remove from office. Whenever in the opinion of the commissioner any director, trustee or officer of an institution has committed any violation of law; has violated a cease and desist order w…

46.29 BOARD OF DIRECTORS OR TRUSTEES, LACK OF QUORUM, TEMPORARY DIRECTORS OR TRUSTEES. If at any time because of the suspension or removal of one or more directors or trustees pursuant to sections 46.23 to 46.33, the board of directors or trustees of an institution has less than …

46.30 HEARINGS, DECISION; REVIEW, MODIFICATION, TERMINATION OR STAY OF ORDERS. § Subdivision 1.Conduct of hearing. Any hearing provided for in sections 46.23 to 46.33 shall be conducted in accordance with the provisions of chapter 14, provided, the hearing shall be private unless…

46.31 ENFORCEMENT OF NOTICES OR ORDERS. The commissioner may apply to the district court of the county in which the home office of the institution is located or to the District Court for Ramsey County for the enforcement of any effective and outstanding notice or order issued und…

46.32 VIOLATION OF NOTICE OR FINAL ORDER; CRIMINAL PENALTY. Any director, trustee or officer, or former director, trustee or officer, of an institution or any other person against whom there is outstanding and effective any notice or final order served upon the director, trustee,…

46.33 MANNER OF SERVICE; COPIES TO FEDERAL AUTHORITIES; CEASE AND DESIST ORDERS. Any service required or authorized to be made by the commissioner pursuant to sections 46.23 to 46.33 may be made by registered or certified mail to the last known address of the person or principal …

46.34 CERTAIN SECURITIES DEPOSITED WITH THE COMMISSIONER OF MANAGEMENT AND BUDGET. All securities required or permitted by law to be assigned to and deposited with the commissioner of commerce for any purpose must, after June 2, 1987, be assigned to and deposited with the commiss…

46.35 INTERPRETATIONS. The commissioner of commerce may upon request from an interested party give an interpretive opinion in connection with the administration of chapters 45 to 56. No penalty provision in these chapters or of any other chapter to which chapters 45 to 56 may ref…

84.0262 RURAL CREDIT RECORDS. The commissioner of natural resources shall have charge of the records of the former Department of Rural Credit and shall provide the public with appropriate access to and copies of the records. History: 1973 c 87 s 2; 1973 c 494 s 4; 1983 c 289 s 32…

84.0263 ISSUING QUITCLAIM DEEDS. The commissioner of natural resources is empowered to issue quitclaim deeds in connection with loans made by the now defunct Department of Rural Credit, a former state agency. The commissioner shall issue the quitclaim deeds upon reasonable eviden…