Minnesota Session Laws - 1991, Regular Session

  

                         Laws of Minnesota 1991 

                        CHAPTER 296-S.F.No. 785 
           An act relating to financial institutions; permitting 
          interstate banking with additional reciprocating 
          states; amending Minnesota Statutes 1990, section 
          48.92, subdivision 7.  
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1990, section 48.92, 
subdivision 7, is amended to read: 
    Subd. 7.  [RECIPROCATING STATE.] "Reciprocating state" is: 
(1) a state that authorizes the acquisition, directly or 
indirectly, or control of, banks in that state by a bank or bank 
holding company located in this state under conditions 
substantially similar to those imposed by the laws of Minnesota 
as determined by the commissioner; and (2) limited to the states 
of Iowa, North Dakota, South Dakota, Wisconsin, Colorado, Idaho, 
Illinois, Indiana, Kansas, Michigan, Missouri, Montana, 
Nebraska, Ohio, Washington, and Wyoming. 
     Sec. 2.  [EFFECTIVE DATE.] 
    Section 1 is effective April 1, 1992. 
    Presented to the governor May 30, 1991 
    Signed by the governor June 3, 1991, 4:27 p.m.