47.101 PLACE OF BUSINESS; RELOCATION, DISPOSAL.
Subdivision 1. Approval.
A bank, trust company, savings bank, or savings association may
change its location, dispose of its place of business, and acquire another upon the written approval
of the commissioner of commerce or otherwise as provided for in this section.
Subd. 2. Banking institutions; certain relocations, applications, notice, approval.
banking institution defined in section
48.01, subdivision 2
, desiring to relocate its main office
within the lesser of a radius of three miles measured in a straight line or the municipality, as
defined in section
, in which it is located shall notify the commissioner of commerce in a
form prescribed by the commissioner of commerce. The applicant shall publish once in a form
prescribed by the commissioner a notice of the relocation in a qualified newspaper published in
the municipality where the banking institution is located. If there are no such newspapers, then
notice shall be published in qualified newspapers likely to give notice in the municipality. The
applicant shall cause the notice to be publicly displayed in its lobby.
Subd. 3. Applications to Department of Commerce.
An application by a banking
institution to relocate its main office other than those provided for in subdivision 2 shall be
accompanied by a filing fee of $3,000 payable to the commissioner of commerce and approved or
disapproved by the commissioner of commerce as provided for in sections
History: 1982 c 473 s 6; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1985 c 248 s
13,14; 1989 c 166 s 3; 1992 c 587 art 1 s 8; 1995 c 202 art 1 s 25; 1996 c 414 art 3 s 1,2;
1999 c 151 s 7; 2003 c 51 s 4