2006 Minnesota Statutes

47.09 ADVERTISEMENTS.
No such financial institution shall, directly, indirectly, or by inference of any kind, display,
represent, hold out or otherwise advertise as its capital, resources, assets or financial strength or
ability or availability therefor, any capital, resources, or assets of any other financial institution or
institutions, whether or not such other financial institution or institutions are in any way connected
with such financial institution through or by way of a holding company or other corporation
or similar structure; nor shall any such financial institution, the capital stock of which is, in
whole or in part, controlled or owned by any such holding company, other corporation or similar
structure, display, represent, hold out or otherwise advertise that it is affiliated with or has any
other connection with such company, corporation or similar structure other than that which truly
and actually exists; and no such financial institution shall advertise as its capital any amount
other or greater than the amount of actual paid-in capital, which it shall have at the time of the
appearance of such advertisement, and no such financial institution shall advertise in any way the
aggregate or individual responsibility or financial worth of its stockholders, or in any manner seek
to convey the impression that the financial resources of its stockholders above the limit provided
by law are available for the purpose of meeting its liabilities.
History: (7657) 1911 c 323 s 2; 1925 c 169; 1931 c 380