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.
47.55 EXISTING BANKING FACILITIES OR BRANCHES OF SAVINGS
ASSOCIATIONS.
Subdivision 1. Banking facilities in operation prior to May 1, 1971. A bank may retain
and operate one detached facility as it may have had in operation prior to May 1, 1971 without
requirement of approval hereunder.
Subd. 2. Facilities of banks or branches of savings associations in operation prior to
acquisition. The purchase of assets and assumption of liabilities of an existing detached facility
of another bank or branch of a savings association or savings bank must follow the notice
and approval procedures in section 47.54 to establish and maintain a new detached facility of
the acquiring bank at that location but need not obtain the consent of other banks as required
by section 47.52.
History: 1971 c 855 s 5; 1977 c 378 s 5; 1992 c 587 art 1 s 13; 1993 c 257 s 11; 1995
c 202 art 1 s 25; 1997 c 157 s 10
ASSOCIATIONS.
Subdivision 1. Banking facilities in operation prior to May 1, 1971. A bank may retain
and operate one detached facility as it may have had in operation prior to May 1, 1971 without
requirement of approval hereunder.
Subd. 2. Facilities of banks or branches of savings associations in operation prior to
acquisition. The purchase of assets and assumption of liabilities of an existing detached facility
of another bank or branch of a savings association or savings bank must follow the notice
and approval procedures in section 47.54 to establish and maintain a new detached facility of
the acquiring bank at that location but need not obtain the consent of other banks as required
by section 47.52.
History: 1971 c 855 s 5; 1977 c 378 s 5; 1992 c 587 art 1 s 13; 1993 c 257 s 11; 1995
c 202 art 1 s 25; 1997 c 157 s 10
Official Publication of the State of Minnesota
Revisor of Statutes