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46.043 Expenses of organization and incorporation of banks limited.

The expenses of organization and incorporation to be paid by a bank may not exceed the statutory fees for filing applications as provided in section 46.041 and the necessary legal expenses incurred incident to drawing articles of incorporation, publication, and recording. The incorporators shall, prior to the issuance of the certificate of authorization, file with the commissioner a verified statement showing the total amount of expense incurred in the organization of the bank to be paid by it after commencing operation.

HIST: (3998) 1919 c 86 s 2; 1965 c 171 s 1; 1983 c 289 s 18,114 subd 2

Official Publication of the State of Minnesota
Revisor of Statutes