1997 Minnesota Statutes

     60A.091 Qualified United States financial institution. 

    For purposes of sections 60A.092 and 60A.093, "qualified 
 United States financial institution" means an institution that: 

    (1) is organized or, in the case of a United States office 
 of a foreign banking organization, licensed, under the laws of 
 the United States or any state; 

    (2) is regulated, supervised, and examined by federal or 
 state authorities having regulatory authority over banks and 
 trust companies; and 

    (3) is a member of the Federal Deposit Insurance 
 Corporation, or the National Credit Union Administration. 

    HIST: 1991 c 325 art 1 s 11