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Office of the Revisor of Statutes

48.892 CLERICAL SERVICES OFFICES.
A bank may perform clerical services, as defined in section 48.89, subdivision 1, for
itself at an off-premises data processing and storage center located within the state if the bank
furnishes assurances satisfactory to the commissioner that the performances of those services
will be subject to regulation and examination by the commissioner to the same extent as if the
services were being performed at the bank's main office or detached facility. A data processing
and storage center is not considered a branch or detached facility, as defined in section 47.51. The
establishment of a data processing and storage center may include acquiring real and personal
property, which shall be subject to section 47.10.
History: 1989 c 129 s 3