2005 Minnesota Statutes

     50.25 Banks organized under the laws of Minnesota; 
  capital stock; amendment of articles. 

    A corporation which was incorporated and organized under 
 the laws of Minnesota for the purpose of doing a savings bank 
 business, may have capital stock of $100 per share, par value; 
 provided, the minimum required capital shall not be less than 
 $500,000.  The capital funds of a proposed savings bank shall be 
 in such greater amount which the commissioner considers 
 necessary, having in mind the deposit potential for such a 
 proposed bank and current industry standards of capital adequacy.

    HIST: (7725) 1911 c 332 s 1; 1982 c 473 s 15; 1983 c 289 s 114 
 subd 1; 1984 c 655 art 1 s 92; 1995 c 171 s 59