Minnesota Legislature
Office of the Revisor of Statutes
2007 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
16A.271 DEPOSITORIES, DESIGNATION.
Where any statute of this state requires or permits a bank or trust company to deposit
securities with the commissioner of finance, the latter, on the request of such depositor, may
designate some other bank or trust company as the depository of such securities under such
depository agreement as may be prescribed and approved by the depositor, and which will not
deprive the commissioner of finance of the control thereof and the charges of such depository
shall be paid by the depositing bank or trust company. If such depositing bank or trust company
is a member of the Federal Reserve System, the Federal Reserve Bank in this state may be the
depository designated by the commissioner of finance.
History: 1933 c 287 s 1; 1986 c 444; 2003 c 112 art 2 s 50
Where any statute of this state requires or permits a bank or trust company to deposit
securities with the commissioner of finance, the latter, on the request of such depositor, may
designate some other bank or trust company as the depository of such securities under such
depository agreement as may be prescribed and approved by the depositor, and which will not
deprive the commissioner of finance of the control thereof and the charges of such depository
shall be paid by the depositing bank or trust company. If such depositing bank or trust company
is a member of the Federal Reserve System, the Federal Reserve Bank in this state may be the
depository designated by the commissioner of finance.
History: 1933 c 287 s 1; 1986 c 444; 2003 c 112 art 2 s 50
Official Publication of the State of Minnesota
Revisor of Statutes