Bill Text: MN SF125 | 2011-2012 | 87th Legislature | Chaptered

---

Bill Title: Northern township detached banking facility establishment

Spectrum: Slight Partisan Bill (Democrat 2-1)

Status: (Passed) 2011-03-21 - Secretary of State Chapter 7 03/17/11 [SF125 Detail]

Download: Minnesota-2011-SF125-Chaptered.html

---

CHAPTER 7--S.F.No. 125

An act

relating to financial institutions; authorizing a detached facility in
Northern Township under certain conditions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. NORTHERN TOWNSHIP; DETACHED BANKING FACILITY.
(a) With prior approval of the commissioner of commerce, a bank operating its
principal office in the city of Winger may establish and maintain not more than one
detached facility in Northern Township. A bank desiring to establish such a detached
facility must follow the approval procedure prescribed in Minnesota Statutes, section
47.54. The establishment of a detached facility under this section is subject to Minnesota
Statutes, sections 47.51 to 47.57, except to the extent those sections are inconsistent
with this section.
(b) Paragraph (a) is effective the day after compliance by the governing body of
Northern Township with Minnesota Statutes, section 645.021, subdivision 3.
Presented to the governor March 14, 2011
Signed by the governor March 17, 2011, 1:38 p.m.