Minnesota Session Laws - 1987, Regular Session

  

                         Laws of Minnesota 1987 

                        CHAPTER 161-S.F.No. 743 
           An act relating to financial institutions; permitting 
          additional detached facilities; amending Minnesota 
          Statutes 1986, sections 47.52; and 49.34, subdivision 
          2; proposing coding for new law in Minnesota Statutes, 
          chapter 47. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1986, section 47.52, is 
amended to read:  
    47.52 [AUTHORIZATION.] 
    (a) With the prior approval of the commissioner, any bank 
doing business in this state may establish and maintain not more 
than two five detached facilities provided the facilities are 
located within the municipality in which the principal office of 
the applicant bank is located; or within 5,000 feet of its 
principal office measured in a straight line from the closest 
points of the closest structures involved; or within 25 100 
miles of its principal office measured in a straight line from 
the closest points of the closest structures involved, if the 
detached facility is within any municipality in which no bank is 
located at the time of application or if the detached facility 
is in a municipality having a population of more than 10,000, 
according to the last previous United States census as 
determined by the commissioner from the latest available data 
from the state demographer, or if the detached facility is 
located in a municipality having a population of 10,000 or less, 
as determined by the commissioner from the latest available data 
from the state demographer, and all the banks having a principal 
office in the municipality have consented in writing to the 
establishment of the facility.  (b) A detached facility shall 
not be closer than 50 feet to a detached facility operated by 
any other bank and shall not be closer than 100 feet to the 
principal office of any other bank, the measurement to be made 
in the same manner as provided above.  This clause shall not be 
applicable if the proximity to the facility or the bank is 
waived in writing by the other bank and filed with the 
application to establish a detached facility.  (c) Any bank is 
allowed, in addition to other facilities, one drive-in or 
walk-up facility located between 150 to 1,500 feet of the main 
banking house or within 1,500 feet from a detached facility.  
The drive-in or walk-up facility permitted by this clause is 
subject to clause (b) and section 47.53. 
     Sec. 2.  [47.76] [REQUIRED SAVINGS ACCOUNT.] 
    A federal or state chartered financial institution, 
including, but not limited to, a bank, savings and loan 
association, savings bank, or credit union, shall offer to a 
Minnesota resident a savings account to promote thrift that has 
no service charge or fee, if such an account has an average 
monthly balance of more than $50. 
    Sec. 3.  Minnesota Statutes 1986, section 49.34, 
subdivision 2, is amended to read:  
    Subd. 2.  [ACQUISITION OF BANK FOR OPERATION AS DETACHED 
FACILITY.] (a) Notwithstanding the geographic limitations of 
subdivision 1, and the distance limitations and consent 
requirements of section 47.52, a state bank may apply to the 
commissioner, pursuant to the procedures contained in sections 
47.51 to 47.56 and 49.35 to 49.41, to acquire another state bank 
or national banking association and its detached facilities 
through merger, consolidation or purchase of assets and 
assumption of liabilities and operate such them as a 
detached facility provided the detached facility facilities of 
the successor bank which results from such acquisition if the 
operation of them otherwise conforms to the limitations of 
section 47.52.  
    (b) In addition to the authority granted in paragraphs (a) 
and (c), and notwithstanding the geographic limitations of 
subdivision 1 and the limitations on number of facilities and 
consent requirements contained in section 47.52, a state bank 
whose main banking office is located within the county of Anoka, 
Carver, Dakota, Hennepin, Ramsey, Scott, or Washington may apply 
to the commissioner, pursuant to the procedures contained in 
sections 47.51 to 47.56 and 49.35 to 49.41, to acquire another 
state bank or national banking association and its detached 
facilities through merger, consolidation, or purchase of assets 
and assumption of liabilities and operate them as detached 
facilities of the successor bank if each resulting detached 
facility is located within the county of Anoka, Carver, Dakota, 
Hennepin, Ramsey, Scott, or Washington. 
    (c) Where the commissioner has determined that a merger, 
consolidation or purchase of assets and assumption of 
liabilities is necessary and in the public interest to prevent 
the probable failure of a state bank or national banking 
association, the limitations on location and number of detached 
facilities in section 47.52 shall not apply to the establishment 
of a detached facility directly resulting from such 
acquisition.  The establishment of a detached facility in order 
to prevent the probable failure of a bank as provided in this 
subdivision shall not require the written consent of banks 
having a principal office in the municipality in which the 
resulting detached facility will be located, notwithstanding the 
provisions of section 47.52. 
    Approved May 16, 1987