SF 324

1st Engrossment - 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 the town of Crooked Lake 
  1.4             under certain conditions. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TOWN OF CROOKED LAKE; DETACHED BANKING 
  1.7   FACILITY.] 
  1.8      With the prior approval of the commissioner of commerce, a 
  1.9   bank may establish and maintain not more than one detached 
  1.10  facility in the town of Crooked Lake.  A bank desiring to 
  1.11  establish such a detached facility must follow the approval 
  1.12  procedure prescribed in Minnesota Statutes, section 47.54.  The 
  1.13  establishment of a detached facility under this section is 
  1.14  subject to Minnesota Statutes, sections 47.51 to 47.57, except 
  1.15  to the extent those sections are inconsistent with this section. 
  1.16     Sec. 2.  [LOCAL APPROVAL.] 
  1.17     Section 1 takes effect the day after compliance by the 
  1.18  governing body of the town of Crooked Lake with Minnesota 
  1.19  Statutes, section 645.021, subdivision 3.