2005 Minnesota Statutes

     48.92 Definitions. 

    Subdivision 1.    Terms.  When used in sections 48.90 to 
 48.99, the terms defined in this section have the meanings given 
 them, unless their context requires a different meaning.  

    Subd. 2.    Control.  "Control," with respect to a bank 
 holding company, bank, or bank to be organized pursuant to 
 chapters 46, 47, 48, and 300, means that term as defined in 
 section 46.048, subdivision 1. 

    Subd. 3.    Bank.  "Bank" means any bank, or bank and 
 trust company which is now or may hereafter be organized under 
 the laws of this state that is an insured institution as the 
 term is defined in section 3(h) of the Federal Deposit Insurance 
 Act, United States Code, title 12, section 1813(h), that:  

    (1) accepts deposits that the depositor has a legal right 
 to withdraw on demand; and 

    (2) engages in the business of making commercial loans.  

    Subd. 4.    Commissioner.  "Commissioner" means the 
 commissioner of commerce of the state of Minnesota.  

    Subd. 5.    Department.  "Department" means the 
 Department of Commerce of the state of Minnesota.  

    Subd. 6.    Home state.  "Home state" means:  (1) with 
 respect to a national bank, the state in which the main office 
 of the bank is located; (2) with respect to a state bank, the 
 state by which the bank is chartered; and (3) with respect to a 
 bank holding company, the state in which the total deposits of 
 all banking subsidiaries of the company are the largest on the 
 later of (i) July 1, 1966, or (ii) the date on which the company 
 becomes a bank holding company under the Bank Holding Company 
 Act of 1956, as amended, United States Code, title 12, section 
 1842. 

    Subd. 7.    Host state.  "Host state" is a state other 
 than the home state of the bank holding company, in which the 
 company controls, or seeks to control, a bank subsidiary. 

    Subd. 8.    Out-of-state bank holding company.  
 "Out-of-state bank holding company" means a bank holding company 
 as defined in the Bank Holding Company Act of 1956, as amended, 
 whose home state is a state other than Minnesota.  

    Subd. 9.    Interstate bank holding company.  
 "Interstate bank holding company" means (a) a bank holding 
 company whose home state is Minnesota and that is engaging in 
 interstate banking, and (b) an out-of-state bank holding company 
 engaged in banking in this state.  

    Subd. 10.    Equity capital.  "Equity capital" means the 
 sum of common stock, preferred stock, paid in surplus, reserves 
 for loss loans and undivided profits. 

    Subd. 11.    Out-of-state bank.  "Out-of-state bank" 
 means a bank whose home state is other than Minnesota. 

    HIST: 1986 c 339 s 6; 1Sp1986 c 3 art 2 s 24; 1987 c 349 art 1 
 s 19; 1988 c 616 s 1; 1990 c 491 art 4 s 1; 1991 c 296 s 1; 1994 
 c 484 s 1; 1995 c 202 art 1 s 12; art 4 s 9-14