1997 Minnesota Statutes

     53.01 Organization. 

    It is lawful for three or more persons, who desire to form 
 a corporation for the purpose of carrying on primarily the 
 business of loaning money to persons within the conditions set 
 forth in this chapter, to organize, under this chapter, an 
 industrial loan and thrift company, by filing with the secretary 
 of state articles of incorporation, and upon paying the fees 
 prescribed by chapter 302A and upon compliance with the 
 procedure provided for the organization and government of 
 ordinary corporations under the laws of this state, and upon 
 compliance with the additional requirements of this chapter 
 prior to receiving authorization to do business. 

    HIST: (7774-25) 1933 c 246 s 1; 1943 c 67 s 1; 1976 c 181 s 2; 
 1980 c 541 s 2; 1981 c 270 s 126; 1982 c 547 s 1; 1983 c 250 s 
 19; 1984 c 576 s 19; 1996 c 414 art 1 s 22