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.
48.63 BANKS NEED NOT GIVE SECURITY FOR DEPOSITS.
Notwithstanding any provisions of law of this state requiring security for deposits in any
bank or trust company in the form of collateral, surety bond or any other form, security for
such deposits shall not be required to the extent the deposits are insured under the provisions of
Section 12B of the Federal Reserve Act, as amended (Mason's United States Code Annotated,
title 12, section 264), or any amendments thereto.
History: (7697-8) 1935 c 317 s 1
Notwithstanding any provisions of law of this state requiring security for deposits in any
bank or trust company in the form of collateral, surety bond or any other form, security for
such deposits shall not be required to the extent the deposits are insured under the provisions of
Section 12B of the Federal Reserve Act, as amended (Mason's United States Code Annotated,
title 12, section 264), or any amendments thereto.
History: (7697-8) 1935 c 317 s 1
Official Publication of the State of Minnesota
Revisor of Statutes