1999 Minnesota Statutes

     47.101 Place of business; relocation, disposal. 

    Subdivision 1.    Approval.  A bank, trust company, 
 savings bank, or savings association may change its location, 
 dispose of its place of business, and acquire another upon the 
 written approval of the commissioner of commerce or otherwise as 
 provided for in this section.  

    Subd. 2.    Banking institutions; certain relocations, 
 applications, notice, approval.  A banking institution defined 
 in section 48.01, subdivision 2, desiring to relocate its main 
 office within the lesser of a radius of three miles measured in 
 a straight line or the municipality, as defined in section 
 47.51, in which it is located shall notify the commissioner of 
 commerce in a form prescribed by the commissioner of commerce.  
 The applicant shall publish once in a form prescribed by the 
 commissioner a notice of the relocation in a qualified newspaper 
 published in the municipality where the banking institution is 
 located.  If there are no such newspapers, then notice shall be 
 published in qualified newspapers likely to give notice in the 
 municipality.  The applicant shall cause the notice to be 
 publicly displayed in its lobby and sent by certified mail to 
 all banking institutions within three miles of the proposed 
 location measured in a straight line.  

    Subd. 3.    Applications to department of commerce.  An 
 application by a banking institution to relocate its main office 
 other than those provided for in subdivision 2 shall be 
 accompanied by a filing fee of $3,000 payable to the 
 commissioner of commerce and approved or disapproved by the 
 commissioner of commerce as provided for in sections 46.041 and 
 46.044. 

    HIST: 1982 c 473 s 6; 1983 c 289 s 114 subd 1; 1984 c 655 art 
 1 s 92; 1985 c 248 s 13,14; 1989 c 166 s 3; 1992 c 587 art 1 s 
 8; 1995 c 202 art 1 s 25; 1996 c 414 art 3 s 1,2; 1999 c 151 s 7