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Minnesota Legislature

Office of the Revisor of Statutes

13A.04 EXCEPTIONS.
    Subdivision 1. Statutory violations. Nothing in this chapter precludes any financial
institution, or any officer, employee, or agent of a financial institution, from notifying a
government authority that the institution, or officer, employee, or agent has information which
may be relevant to a possible violation of any statute or rule and providing access to financial
records relevant to the possible violation.
    Subd. 2. Release incident to another proceeding. Nothing in this chapter precludes a
financial institution, as an incident to perfecting a security interest, proving a claim in bankruptcy,
or otherwise collecting on a debt owing either to the financial institution itself or in its role as a
fiduciary, from providing copies of any financial record to any court or government authority.
    Subd. 3. Government assistance programs. Nothing in this chapter precludes a financial
institution, as an incident to processing an application for assistance to a customer in the form of a
government loan, loan guaranty, or loan insurance agreement, or as an incident to processing a
default on, or administering a government guaranteed or insured loan, from providing access to an
appropriate government authority with any financial record necessary to permit the authority to
carry out its responsibilities under a loan, loan guaranty, or loan insurance agreement.
Whenever a customer applies for participation in a government loan, loan guaranty, or loan
insurance program, the government authority administering the program shall give the customer
written notice of the authority's access rights under this subdivision. No further notification shall
be required for subsequent access by that authority during the term of the loan, loan guaranty, or
loan insurance agreement.
Financial records obtained pursuant to this subdivision may be used only for the purpose for
which they were originally obtained.
    Subd. 4. Other exceptions. Nothing in this chapter:
(a) prohibits the disclosure of any financial records or information which is not identified
with or identifiable as being derived from the financial records of a particular customer;
(b) prohibits examination by or disclosure to the commissioner of commerce of financial
records or information in the exercise of the commissioner's supervisory, regulatory, or monetary
functions with respect to a financial institution;
(c) shall apply when financial records are sought by a government authority under the Rules
of Civil or Criminal Procedure in connection with litigation to which the government authority
and the customer are parties;
(d) shall apply when financial records are sought by a government authority in connection
with a lawful proceeding, investigation, examination, or inspection directed at the financial
institution in possession of the records or at a legal entity which is not a customer;
(e) shall apply to any subpoena or court order issued in connection with proceedings before a
grand jury;
(f) shall apply to subpoenas issued in civil cases pursuant to the Rules of Civil Procedure; or
(g) shall apply when a government authority is seeking only the name, address, account
number, and type of account of any customer or ascertainable group of customers associated with
a financial transaction or class of financial transaction.
History: 1983 c 225 s 4; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444