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Minnesota Legislature

Office of the Revisor of Statutes

INDUSTRIAL LOAN AND THRIFT COMPANIES

Acceptances, discounting and purchasing, Minn. Statutes 2016 53.04

Accounts

Demand bank accounts, Minn. Statutes 2016 53.05

Negotiable order of withdrawal accounts, Minn. Statutes 2016 53.04

Real estate trust accounts, Minn. Statutes 2016 82.75

Savings accounts, Minn. Statutes 2016 53.04, 2016 53.05, 2016 53.10

Transfer or closure, procedures, Minn. Statutes 2016 47.77

Acquisitions, Minn. Statutes 2016 46.048

Administrators, acting as, Minn. Statutes 2016 53.05

Applications, certificates of authorization, Minn. Statutes 2016 53.03, 2016 53.10

Articles of incorporation

Commerce commissioner, filing with, Minn. Statutes 2016 47.08, 2016 53.03

Secretary of state, filing with, Minn. Statutes 2016 53.01

Assets

Capital assets, Minn. Statutes 2016 53.02, 2016 53.05

Inventory, liquidation, Minn. Statutes 2016 49.24

Liquid assets, Minn. Statutes 2016 53.07

Security, Federal Deposit Insurance Corporation loans, Minn. Statutes 2016 49.05

Assignments, insolvency, Minn. Statutes 2016 49.013

Attachments, possession by Commerce Department, Minn. Statutes 2016 49.04

Audits and examinations

Agreements with Commerce Department, Minn. Statutes 2016 53.09

Certificates, ascertaining assets, Minn. Statutes 2016 53.03

Commerce Department, duties, Minn. Statutes 2016 46.04, 2016 53.09

Compliance examinations, Minn. Statutes 2016 53.09

Fees, Minn. Statutes 2016 46.131, 2016 53.09

Frequency, Minn. Statutes 2016 46.04, 2016 53.09

Requirements, generally, Minn. Statutes 2016 46.04

Background checks, acquisition, Minn. Statutes 2016 46.048

Banking corporations, depositing funds in, Minn. Statutes 2016 53.05

Bills of exchange, discounting and purchasing, Minn. Statutes 2016 53.04

Boards of directors, see Directors, trustees, officers under this topic

Bonds (officers and fiduciaries)

Characteristics, generally, Minn. Statutes 2016 45.0291

Relicensure, conditions for, Minn. Statutes 2016 45.027

Branches, applications for, Minn. Statutes 2016 53.03

Bylaws

Commerce commissioner, filing with, Minn. Statutes 2016 53.03

Commerce Department, submitting to, Minn. Statutes 2016 53.05

Capital assets, Minn. Statutes 2016 53.02, 2016 53.05

Capital stock, selling, Minn. Statutes 2016 53.02

Cashiers checks, issuance, Minn. Statutes 2016 53.05

Cease and desist orders, insurance, Minn. Statutes 2016 53.10

Certificates of authorization

Applications, Minn. Statutes 2016 53.03, 2016 53.10

Contested cases, Minn. Statutes 2016 53.03

Forfeiture, liquidation, Minn. Statutes 2016 49.04

Certificates of indebtedness

Issuance and sale, Minn. Statutes 2016 53.04

Security for loans, using as, Minn. Statutes 2016 53.05

Charges and rates

Adjustment, implicit price deflator, use in calculating, Minn. Statutes 2016 47.59

Insurance, contracting for and receiving, Minn. Statutes 2016 56.155

Choses in action, discounting and purchasing, Minn. Statutes 2016 53.04

Closing, Minn. Statutes 2016 47.015

Commerce Department, rulemaking authority, Minn. Statutes 2016 46.01

Conflict of laws, credit extension maximum rates, Minn. Statutes 2016 47.59

Contested cases

Certificates of authorization, applications for, Minn. Statutes 2016 53.03

Directors, trustees, or officers, removal of, Minn. Statutes 2016 46.26, 2016 46.30

Violations, generally, Minn. Statutes 2016 46.24, 2016 46.26, 2016 46.30

Contracts and agreements

Credit sales or service, authority to make, Minn. Statutes 2016 53.04

Examinations, agreements with Commerce Department, Minn. Statutes 2016 53.09

Local public funds, investment, Minn. Statutes 2016 118A.05, 2016 118A.07

Credit insurance, sales commissions, Minn. Statutes 2016 47.016

Credit sale contracts, Minn. Statutes 2016 47.59

Credit, extending, savings association powers, Minn. Statutes 2016 53.04

Custodians, industrial loan and thrift companies acting as, medical savings accounts, Minn. Statutes 2016 47.75

Debt management services providers, exclusion, Minn. Statutes 2016 332A.02

Definitions

Banking law, Minn. Statutes 2016 46.23

Deposit and investment of local public funds, Minn. Statutes 2016 118A.01

Generally, Minn. Statutes 2016 53.015

Motor vehicle retail installment sales, Minn. Statutes 2016 53C.01

Residential Mortgage Originator and Servicer Licensing Act, Minn. Statutes 2016 58.02

Uniform Disposition of Unclaimed Property Act, Minn. Statutes 2016 345.31

Depositories, see Public funds under DEPOSITORIES

Deposits to

Authority to accept, Minn. Statutes 2016 53.01

Insolvent financial institutions, money collected, Minn. Statutes 2016 49.24

Savings deposits, see same under this topic

Directors, trustees, officers

Appointment, temporary, Minn. Statutes 2016 46.29

Fines, Minn. Statutes 2016 46.32

Insolvency, duty to report, Minn. Statutes 2016 49.013

Orders, violations, Minn. Statutes 2016 46.32

Quorum, lack caused by removal, Minn. Statutes 2016 46.29

Removal, Minn. Statutes 2016 46.26, 2016 46.30

Residence, Minn. Statutes 2016 53.06

Service of process on, Minn. Statutes 2016 46.33

Disclosure

Finance charges, consumer loans and credit sales contracts, Minn. Statutes 2016 47.59

Negotiable order of withdrawal accounts, Minn. Statutes 2016 53.04

Dividends

Declaring, procedures, Minn. Statutes 2016 53.08

Unclaimed dividends, voluntary liquidation, Minn. Statutes 2016 49.215

Electronic funds transfers

Generally, see FUNDS TRANSFERS

Terminals, Minn. Statutes 2016 47.61 to 2016 47.74

Evidences of indebtedness, issuance, Minn. Statutes 2016 48.151

Examiners, see BANK EXAMINERS

FDIC, see FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

Fees

Changing locations, Minn. Statutes 2016 53.03

Document changes, Minn. Statutes 2016 46.131

Examinations, Minn. Statutes 2016 46.131, 2016 53.09

Filing fees, Minn. Statutes 2016 53.03

Generally, Minn. Statutes 2016 53.01

Investigations, Minn. Statutes 2016 46.05, 2016 53.03

Records requested by government authorities, copying, Minn. Statutes 2016 48.513

Finance charges, Minn. Statutes 2016 47.59

Financial institutions, industrial loan and thrift companies defined as, Minn. Statutes 2016 118A.01

Financial organizations, industrial loan and thrift companies defined as, Minn. Statutes 2016 345.31

Fines

Commerce Department, imposing, Minn. Statutes 2016 45.027

Directors, trustees, officers, Minn. Statutes 2016 46.32

Generally, Minn. Statutes 2016 53.09

Loan and credit sale contract violations, Minn. Statutes 2016 47.59

Foreclosure consultants, exclusion, Minn. Statutes 2016 325N.01

Foreclosure purchasers, exclusion, Minn. Statutes 2016 325N.10

Garnishments, vacating, possession by Commerce Department, Minn. Statutes 2016 49.04

Guardians, acting as, Minn. Statutes 2016 53.05

Health savings accounts, Minn. Statutes 2016 47.75

Impairment of capital, liquidation, Minn. Statutes 2016 49.04

Injunctions

Commerce Department, issuance by, Minn. Statutes 2016 45.027

Involuntary liquidation, Minn. Statutes 2016 49.04

Insolvency

Assignments prohibited, Minn. Statutes 2016 49.013

Commerce Department, borrowing from FDIC, Minn. Statutes 2016 49.05

Directors and officers, duties, Minn. Statutes 2016 49.013

Receiving deposits, Minn. Statutes 2016 624.68

Instruments, taking with blanks in, Minn. Statutes 2016 53.05

Insurance premium finance agreements, Minn. Statutes 2016 59A.03

Insurance, obtaining, Minn. Statutes 2016 53.03, 2016 53.07, 2016 53.10

Interest rates

Adjustment, implicit price deflator, use in calculating, Minn. Statutes 2016 47.59

Usurious interest, Minn. Statutes 2016 334.02, 2016 334.03

Interest

Charging, collecting, and receiving, Minn. Statutes 2016 53.04

Usurious interest, Minn. Statutes 2016 48.196, 2016 334.20

Intervening parties, applications, certificates of authorization, Minn. Statutes 2016 53.03

Investigations

Compliance examinations, Minn. Statutes 2016 53.09

Generally, Minn. Statutes 2016 45.027, 2016 46.05, 2016 53.03

Involuntary liquidation, Minn. Statutes 2016 49.04

Judgments, vacating, possession by Commerce Department, Minn. Statutes 2016 49.04

Lawsuits

Examinations fees, Minn. Statutes 2016 53.09

Liquidation, see same under this topic

Loan and credit sale contract violations, Minn. Statutes 2016 47.59

Stay, involuntary liquidation, Minn. Statutes 2016 49.04

Levies, possession by Commerce Department, Minn. Statutes 2016 49.04

Licenses

Denial, revocation, or suspension, Minn. Statutes 2016 45.027

Motor vehicle sales finance company licenses, exemption, Minn. Statutes 2016 53C.02

Regulated lenders, acting as, exemptions, Minn. Statutes 2016 56.002

Relicensure, conditions, Minn. Statutes 2016 45.027

Liquid assets, Minn. Statutes 2016 53.07

Liquidation

Certificates, recording, Minn. Statutes 2016 49.05

Completion, Minn. Statutes 2016 49.30, 2016 49.31

Consolidation during, Minn. Statutes 2016 49.06

Creditors, petitions by, completion committee, Minn. Statutes 2016 49.30

Foreclosure, certificates prior to sales, recording, Minn. Statutes 2016 49.05

Generally, Minn. Statutes 2016 49.24

Involuntary liquidation, Minn. Statutes 2016 49.04

Lawsuits, validation, certificates, Minn. Statutes 2016 49.05

Possession by Commerce Department, Minn. Statutes 2016 49.05, 2016 49.32

Power of attorney, executing, Minn. Statutes 2016 49.05

Subrogation, FDIC, Minn. Statutes 2016 49.05

Trustees, Minn. Statutes 2016 49.215

Voluntary liquidation, Minn. Statutes 2016 49.215

Liquidators

Federal Deposit Insurance Corporation, Minn. Statutes 2016 49.05

Lawsuits, see Liquidation under this topic

Loans by

Amounts of, Minn. Statutes 2016 53.05

Consumer short-term loans, Minn. Statutes 2016 47.601

Consumer small loans, Minn. Statutes 2016 47.60

Documenting, making, and securing, Minn. Statutes 2016 53.04

Generally, Minn. Statutes 2016 47.59

Interest, usurious interest, penalties, Minn. Statutes 2016 48.196

Interest rates, Minn. Statutes 2016 334.02, 2016 334.03

Motor vehicle title loans, Minn. Statutes 2016 47.602

Overdraft checking plan loans, not authorized, Minn. Statutes 2016 53.04

Payday loans, Minn. Statutes 2016 47.60, 2016 47.601

Savings associations, powers as, Minn. Statutes 2016 53.04

Local public funds, investment authority, Minn. Statutes 2016 118A.07

Locations of business, Minn. Statutes 2016 53.03

Manufactured home sales, finance charges, Minn. Statutes 2016 47.59

Medical savings accounts, Minn. Statutes 2016 47.75

Motor vehicle retail installment sales contracts, finance charges, Minn. Statutes 2016 47.59

Names

Commerce Department, submitting to, Minn. Statutes 2016 53.03

Prohibitions, Minn. Statutes 2016 53.05

Notes, discounting and purchasing, Minn. Statutes 2016 53.04

Officers, see Directors, trustees, officers under this topic

Orders

Directors, officers, or trustees, removal from office, Minn. Statutes 2016 46.26

Unsafe or unsound practices, cease and desist orders, Minn. Statutes 2016 46.24

Organization, Minn. Statutes 2016 53.01

Ownership, change in, reporting, Minn. Statutes 2016 53.09

Public demand for, determining, Minn. Statutes 2016 53.03

Public funds (local), collateral, withdrawal, Minn. Statutes 2016 118A.03

Publication by, certificates of authorization applications, notice, Minn. Statutes 2016 53.03

Real estate licensure, exemptions, Minn. Statutes 2016 82.56

Records and record keeping

Access by government authorities, Minn. Statutes 2016 13A.01 to 2016 13A.04, 2016 48.513

Electronic maintenance and storage, Minn. Statutes 2016 46.04

Liquidation, disposition, Minn. Statutes 2016 49.24

Medical savings accounts, Minn. Statutes 2016 47.75

Optical image storage systems, Minn. Statutes 2016 46.04

Regulated lenders, acting as, Minn. Statutes 2016 56.002

Reports given

Annual reports, assets and liabilities, Minn. Statutes 2016 53.09

Change in ownership, Minn. Statutes 2016 53.09

Dividends, declaring, Minn. Statutes 2016 53.08

Insolvency, Minn. Statutes 2016 49.013

Transactions, regulated, Minn. Statutes 2016 45.027

Reserves, Minn. Statutes 2016 53.07

Residential mortgage originator and servicer licenses, exemptions, Minn. Statutes 2016 58.04, 2016 58.05

Safe deposit boxes, renting, Minn. Statutes 2016 55.06

Sales finance companies, industrial loan and thrift companies defined as, Minn. Statutes 2016 53C.01

Saturdays, closing permitted, Minn. Statutes 2016 47.015

Savings accounts

Insuring, Minn. Statutes 2016 53.10

Receiving, Minn. Statutes 2016 53.04

Security for loans, using as, Minn. Statutes 2016 53.05

Savings associations, powers as, Minn. Statutes 2016 53.04

Savings deposits

Abandoned and unclaimed property, see ABANDONED AND UNCLAIMED PROPERTY

Insuring, Minn. Statutes 2016 53.10

Receiving, Minn. Statutes 2016 53.04

Security for loans, using as, Minn. Statutes 2016 53.05

Security agreements, Minn. Statutes 2016 336.9-201

Service of process on, procedure, Minn. Statutes 2016 45.028

Shareholders, assessments, Minn. Statutes 2016 49.17 to 2016 49.19, 2016 49.24

Subpoenas, records, Minn. Statutes 2016 13A.02, 2016 13A.04

Subsidiaries

Defined as financial institutions, Minn. Statutes 2016 58.02

Residential mortgage originator and servicer licenses, exemptions, Minn. Statutes 2016 58.04, 2016 58.05

Supervision, Commerce Department powers, Minn. Statutes 2016 46.05

Surplus, amount necessary, Minn. Statutes 2016 53.02

Suspension, preferred deposits, Minn. Statutes 2016 49.24

Thrift certificates, issuance and sale, Minn. Statutes 2016 53.03

Transfers of money or property, insolvency, Minn. Statutes 2016 49.013

Trustees

Acting as, Minn. Statutes 2016 47.75, 2016 53.05

Directors, trustees, officers, see same under this topic

Trusts, accepting, Minn. Statutes 2016 53.05

Violations and penalties

Consumer small loan regulations, Minn. Statutes 2016 47.60

Credit sale contract violations, Minn. Statutes 2016 47.59

Directors, trustees, officers, Minn. Statutes 2016 46.26, 2016 46.32

Disobeying laws, generally, Minn. Statutes 2016 46.24

Generally, Minn. Statutes 2016 45.027

Insolvent institutions, receiving deposits, Minn. Statutes 2016 624.68

Loan finance charge violations, Minn. Statutes 2016 47.59

Orders violations, Minn. Statutes 2016 46.06, 2016 46.32

Unsafe practices, Minn. Statutes 2016 46.24

Usurious interest, Minn. Statutes 2016 48.196

Voluntary liquidation, Minn. Statutes 2016 49.215