Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
48.28 LIQUIDATION, UNLESS DEPOSITS ARE REDUCED.
If any such bank or trust company shall violate the provisions of Minnesota Statutes 1945,
section 48.27, as amended, the commissioner of commerce may take possession thereof and
liquidate such corporation in accordance with law, unless said bank or trust company shall within
90 days after notice from the commissioner of commerce reduce its deposits to the amount
allowed by law or increase its capital stock accordingly.
History: (7699-13) 1927 c 325 s 2; 1943 c 342 s 1; 1945 c 73 s 2; 1947 c 11 s 2; 1949 c 24 s
2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
If any such bank or trust company shall violate the provisions of Minnesota Statutes 1945,
section 48.27, as amended, the commissioner of commerce may take possession thereof and
liquidate such corporation in accordance with law, unless said bank or trust company shall within
90 days after notice from the commissioner of commerce reduce its deposits to the amount
allowed by law or increase its capital stock accordingly.
History: (7699-13) 1927 c 325 s 2; 1943 c 342 s 1; 1945 c 73 s 2; 1947 c 11 s 2; 1949 c 24 s
2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
Official Publication of the State of Minnesota
Revisor of Statutes