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At any time after a period of three years shall have elapsed, after the commissioner shall
have taken possession of the business and property of a financial institution, a majority of the
creditors in number and amount may petition the court for the appointment of a committee of
three competent persons, residents of the county, named by them, the court may make such
appointment, and any officer or member of the board of directors of the financial institution may
be appointed as members of said committee, if residents of the county. All rights and duties of the
commissioner shall then devolve upon the committee.
History: (7683) RL s 2999; 1933 c 310 s 1; 1945 c 128 s 10

Official Publication of the State of Minnesota
Revisor of Statutes