HF 986

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to financial institutions; permitting 
  1.3             location of a branch bank in Chisago Lakes township 
  1.4             under certain conditions. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CHISAGO LAKES TOWNSHIP; DETACHED BANKING 
  1.7   FACILITY.] 
  1.8      With the prior approval of the commissioner of commerce, a 
  1.9   bank operating its principal office in Marine on St. Croix may 
  1.10  establish and maintain not more than one detached facility in 
  1.11  Chisago Lakes township.  A bank desiring to establish such a 
  1.12  detached facility must follow the approval procedure prescribed 
  1.13  in Minnesota Statutes, section 47.54.  The establishment of a 
  1.14  detached facility under this section is subject to Minnesota 
  1.15  Statutes, sections 47.51 to 47.57, except to the extent those 
  1.16  sections are inconsistent with this section. 
  1.17     Sec. 2.  [LOCAL APPROVAL.] 
  1.18     Section 1 takes effect the day after compliance by the 
  1.19  governing body of Chisago Lakes township with Minnesota 
  1.20  Statutes, section 645.021, subdivision 3.