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Minnesota Legislature

Office of the Revisor of Statutes

47.0152 POWER OF COMMISSIONER.
Whenever the commissioner is of the opinion that an emergency exists, or is impending, in
the state or in a part of it, the commissioner may, by proclamation, authorize financial institutions
located in the affected area to close any or all of their offices. In addition, if the commissioner is
of the opinion that an emergency exists, or is impending, which affects, or may affect, a particular
financial institution or a particular office of it, but not financial institutions located in the area
generally, the commissioner may authorize the particular financial institution or office affected, to
close or to temporarily relocate. The office closed shall remain closed until the commissioner
proclaims that the emergency has ended, or until an earlier time when the officers of the financial
institution determine that an office, closed because of the emergency, should reopen, and, in either
event, for the further time reasonably necessary to reopen. The provisions of section 47.101 shall
be waived for a temporary location established due to an emergency.
History: 1971 c 318 s 2; 1Sp1985 c 13 s 180; 1986 c 444