reglab/housing_qa huggingface dataset:
MN Stat § 47.015 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.015 — Closing On Certain Days.

47.015 CLOSING ON CERTAIN DAYS. Subdivision 1. Financial institutions. As used in this section the term "financial institution" shall include banks, trust companies, banks and trust companies, savings banks, industrial loan and thrift companies having outstanding certificates of indebtedness for investment, savings associations, national banking associations, Federal Reserve banks, federal savings associations, and federal savings banks doing business in this state, and includes any branch or detached facility of any of them. Subd. 2. Holiday closings generally. Any financial institution in the state may remain closed on any Monday next following a Sunday on which falls a holiday designated by any law of this state and on any Saturday next following a Friday holiday or preceding a Sunday or Monday holiday. Any such Saturday or any such Monday on which any financial institution remains closed is a holiday and not a business day with respect to that institution. Any act which by law or contract may be performed on any such Saturday or any such Monday, at, by, or with respect to any such financial institution remaining closed on such day may be performed on the next succeeding regular business day. No liability or loss of rights on the part of any person or financial institution shall result from such closing. Subd. 3. Exceptions; Mondays or holidays. Any financial institution in the state may remain open for the transaction of business on any such Monday or on any holiday designated by any law of this state, and on any such day any financial institution in this state may accept, certify or pay checks, drafts or other instruments, may charge the same against the accounts of customers, and may receive payment of notes, drafts and other instruments, all to the same extent and with the same legal effect as if such day were a regular business day, but nothing herein contained shall affect the due date of any time instrument. Subd. 4. Good Friday. A financial institution may close for up to three hours on Good Friday. The financial institution shall post on its premises a written notice of the closing. Subd. 5. December 24 or 31. A financial institution may close at noon on December 24 or on December 31. The financial institution shall post on its premises a written notice of the closing. History:  1949 c 38 s 1; 1951 c 128 s 1; 1953 c 61 s 1; 1953 c 445 s 1; 1955 c 9 s 1; 1955 c 202 s 1; 1955 c 229 s 1; 1955 c 631 s 1; 1955 c 787 s 1; 1981 c 220 s 5; 1Sp1985 c 13 s 178; 1989 c 166 s 2; 1992 c 587 art 1 s 6; 1995 c 171 s 6; 2003 c 51 s 3; 2012 c 142 s 1
MN Stat § 47.0151 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.0151 — Emergency Suspension Of Business, Definitions.

47.0151 EMERGENCY SUSPENSION OF BUSINESS, DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 47.0151 to 47.0155, the terms defined in this section have the meanings given them, unless the context requires otherwise. Subd. 2. Commissioner. "Commissioner" means the commissioner of commerce. Subd. 3. Financial institution. "Financial institution" includes a bank, a savings bank, a trust company, any branch or agency of a foreign banking organization, a person or association of persons lawfully carrying on the business of banking, a savings association, and, so far as the provisions of sections 47.0151 to 47.0155 are consistent with federal law, national banks and federal savings associations, and includes any branch or detached facility of any of them. Subd. 4. Officer. "Officer" means the person designated by the board of directors, board of trustees, or other governing body of a financial institution, to act for the financial institution in carrying out the provisions of sections 47.0151 to 47.0155 or, in the absence of a designation or of the officer or officers designated, the president or any other officer currently in charge of the operations of the financial institution or of the office or offices in question. Subd. 5. Office. "Office" means any place at which a financial institution transacts its business or conducts operations related to its business. Subd. 6. Emergency. "Emergency" means any condition or occurrence which may interfere physically with the conduct of normal business operations at one or more or all of the offices of a financial institution and which poses an imminent or existing threat to the safety or security of persons or property, or both. An emergency includes but is not limited to fire; flood; earthquake; hurricane; wind, rain, or snow storms; labor disputes and strikes; power failures; transportation failures; interruption of communication facilities; shortages of fuel, housing, food, transportation or labor; robbery or attempted robbery; actual or threatened enemy attack; epidemics or other catastrophes, riots; civil commotions; and other acts of lawlessness or violence. History:  1971 c 318 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1Sp1985 c 13 s 179; 1995 c 202 art 1 sec 25
MN Stat § 47.0152 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.0152 — Emergency Closings; Power Of Commissioner.

47.0152 EMERGENCY CLOSINGS; POWER OF COMMISSIONER. Whenever the commissioner is of the opinion that an emergency exists, or is impending, in the state or in a part of it, the commissioner may, by proclamation, authorize financial institutions located in the affected area to close any or all of their offices. In addition, if the commissioner is of the opinion that an emergency exists, or is impending, which affects, or may affect, a particular financial institution or a particular office of it, but not financial institutions located in the area generally, the commissioner may authorize the particular financial institution or office affected, to close or to temporarily relocate. The office closed shall remain closed until the commissioner proclaims that the emergency has ended, or until an earlier time when the officers of the financial institution determine that an office, closed because of the emergency, should reopen, and, in either event, for the further time reasonably necessary to reopen. The provisions of section 47.101 shall be waived for a temporary location established due to an emergency. History:  1971 c 318 s 2; 1Sp1985 c 13 s 180; 1986 c 444
MN Stat § 47.0153 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.0153 — Closings; Powers Of Officers.

47.0153 CLOSINGS; POWERS OF OFFICERS. Subdivision 1. Emergency closings. When the officers of a financial institution are of the opinion that an emergency exists, or is impending, which affects, or may affect, a financial institution's offices, they shall have the authority, in the reasonable exercise of their discretion, to determine not to open any of its offices on any business day or, if having opened, to close an office during the continuation of the emergency, even if the commissioner does not issue a proclamation of emergency. The office closed shall remain closed until the time that the officers determine the emergency has ended, and for the further time reasonably necessary to reopen. No financial institution office shall remain closed for more than 48 consecutive hours, excluding other legal holidays, without the prior approval of the commissioner. Subd. 2. Special observance closings. The officers of a financial institution may close the financial institution or one or more of the financial institution's offices on a day designated, by the President of the United States or the governor as a day of national mourning, rejoicing, or other special observance. History:  1971 c 318 s 3; 1994 c 382 s 2
MN Stat § 47.0154 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.0154 — Notice To Commissioner.

47.0154 NOTICE TO COMMISSIONER. A financial institution closing an office or offices pursuant to the authority granted under section 47.0153, subdivision 1, shall give as prompt notice of its action, as conditions will permit and by any means available, to the commissioner. History:  1971 c 318 s 4; 1994 c 382 s 3
MN Stat § 47.0155 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.0155 — Effect Of Closing.

47.0155 EFFECT OF CLOSING. Any day on which a financial institution, or any of its offices, is closed during all or part of its normal business hours pursuant to sections 47.0151 to 47.0155 shall be, with respect to the financial institution or, if not all of its offices are closed, then with respect to the office which is closed, a legal holiday for all purposes with respect to any financial institution business of any character. No liability, or loss of rights of any kind, on the part of any financial institution, or director, officer, or employee thereof, shall accrue or result by virtue of any closing authorized by sections 47.0151 to 47.0155. The provisions of sections 47.0151 to 47.0155 shall be construed and applied as being in addition to, and not in substitution for or limitation of, any other law of this state or of the United States, authorizing the closing of a financial institution or excusing the delay by a financial institution in the performance of its duties and obligations because of emergencies or conditions beyond the financial institution's control, or otherwise. History:   1971 c 318 s 5
MN Stat § 47.0156 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.0156 — Closing Effecting A Permanent Cessation Of Business.

47.0156 CLOSING EFFECTING A PERMANENT CESSATION OF BUSINESS. The permanent closing of a financial institution as defined in section 47.015 or 47.0151 for purposes, or with a result, other than authorized in sections 47.015 to 47.0155 is unlawful unless at least 60 days' written notice is given to the commissioner. History:  1Sp1985 c 13 s 181; 1993 c 257 s 6; 1999 c 151 s 6
MN Stat § 47.016 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.016 — Disposition Of Credit Insurance Income.

47.016 DISPOSITION OF CREDIT INSURANCE INCOME. Subdivision 1. Definitions. (a) For the purpose of this section, the following terms have the meanings given them. (b) "Credit insurance" means credit life, accident and health insurance, and credit involuntary unemployment insurance as defined in section 62B.02. (c) "Officer," "director," "employee," and "shareholder" include the spouse and minor children of the officer, director, employee, or shareholder. (d) "Interest" includes ownership through a spouse or minor children; ownership through a broker, nominee, or agent; and ownership through a corporation, partnership, association, joint venture, or proprietorship. (e) "Financial institution" means any person who lends money and sells credit insurance to the borrower. Subd. 2. Scope and purpose. This section applies to sales of credit insurance by employees, officers, directors, and shareholders of a financial institution and by corporations, partnerships, associations, and other entities in which these persons have an interest. The purposes of this section are (1) to prohibit employees, officers, directors, members, and shareholders of financial institutions from benefiting personally on the sale of credit insurance to loan customers and (2) to encourage marketing of credit insurance through the use of financial facilities only under arrangements which assure that employees, officers, directors, and shareholders do not receive benefits not shared with all stockholders or members of the financial institution. Subd. 3. Distribution of credit insurance income. No employee, officer, director, or shareholder of a financial institution, nor a corporation, partnership, association, or other entity in which these persons have an interest, may retain commissions or other income from the sale of credit insurance in connection with a loan made by the financial institution. All such income received by these persons or by a corporation, partnership, association, or other entity in which these persons have an interest, must be turned over to the financial institution. Nothing in this section prohibits a financial institution from receiving the income directly in the form of commissions or as compensation for use of its premises, personnel, and good will. History:  1983 c 250 s 8; 1993 c 343 s 1
MN Stat § 47.02 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.02 — "bank" And "savings Bank."

47.02 "BANK" AND "SAVINGS BANK." A "bank" is a corporation having a place of business in this state, where credits are opened by the deposit of money or currency, or the collection of the same, subject to be paid or remitted on draft, check, or order; and where money is loaned or advanced on stocks, bonds, bullion, bills of exchange, or promissory notes, and where the same are received for discount or sale. A "savings bank" is a corporation authorized to do business under chapter 50. Every "bank" or "savings bank" in this state shall at all times be under the supervision and subject to the control of the commissioner of commerce, and when so conducted the business shall be known as "banking." History:  (7636) 1907 c 111 s 1; 1909 c 103 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1995 c 171 s 7
MN Stat § 47.03 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.03 — Use Of Certain Words Permitted.

47.03 USE OF CERTAIN WORDS PERMITTED. Subdivision 1. Bank, banker, banking. No individual, partnership, unincorporated association, or corporation, except as specifically authorized by the laws of this state, who does not hold an effective certificate of authority, issued by the commissioner of commerce, to engage in the business of banking and is not subject to and complying with all the provisions of law relating to banks shall engage in such business, or make use of the words "bank," "banker," or "banking," or any derivative or compound of any such words, or any word or words in a foreign language having the same or a similar meaning, in its business name or in any sign, symbol, token, letterhead, circular, advertisement, or any other written or printed matter, in such manner as might indicate to any person that such individual, partnership, unincorporated association, or corporation is authorized to engage in the business of banking. This subdivision shall not apply to any holding company affiliate or affiliate as defined in the Act of Congress, known as the Banking Act of 1933, nor to any insurance company authorized to engage in the insurance business in the state of Minnesota. Subd. 2. Violations. Every individual, partnership, unincorporated association, or corporation which shall violate any of the provisions of this section shall forfeit to the state the sum of not to exceed $100 for each day the violation shall continue, as determined by the court, to be recovered in a civil action to be brought by the attorney general in the name of the state at the request of the commissioner of commerce, and may be enjoined from any further violation in an action brought in the name of the state for that purpose. History:  (7637) 1907 c 111 s 2; 1945 c 133 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
MN Stat § 47.07 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.07 — Companies Subject To Provisions.

47.07 COMPANIES SUBJECT TO PROVISIONS. All companies, associations, and corporations organized under any law of this state, other than those relating to the organization of banks and trust companies, which assume or exercise any of the functions, powers, or privileges conferred upon banks or trust companies under any law of this state, shall be subject to all the limitations, penalties, and requirements incident or pertaining to these functions, powers, or privileges; and the stockholders or persons forming the same shall be liable in the same manner and to the same extent as if these companies, associations, and corporations were organized as banks or trust companies under this chapter. History:  (7655) RL s 2982
MN Stat § 47.08 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.08 — Articles Of Incorporation Filed With Commissioner.

47.08 ARTICLES OF INCORPORATION FILED WITH COMMISSIONER. All persons proposing to incorporate and organize any financial institution, whether defined or described as such by the laws of the state, shall, before doing any business in the state as a corporation, and before filing their articles of incorporation with the secretary of state or with any other officer with whom the law requires such articles to be filed or recorded, file a copy of such articles with the commissioner of commerce. History:  (7656) 1911 c 323 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
MN Stat § 47.09 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.09 — Advertisements.

47.09 ADVERTISEMENTS. No such financial institution shall, directly, indirectly, or by inference of any kind, display, represent, hold out or otherwise advertise as its capital, resources, assets or financial strength or ability or availability therefor, any capital, resources, or assets of any other financial institution or institutions, whether or not such other financial institution or institutions are in any way connected with such financial institution through or by way of a holding company or other corporation or similar structure; nor shall any such financial institution, the capital stock of which is, in whole or in part, controlled or owned by any such holding company, other corporation or similar structure, display, represent, hold out or otherwise advertise that it is affiliated with or has any other connection with such company, corporation or similar structure other than that which truly and actually exists; and no such financial institution shall advertise as its capital any amount other or greater than the amount of actual paid-in capital, which it shall have at the time of the appearance of such advertisement, and no such financial institution shall advertise in any way the aggregate or individual responsibility or financial worth of its stockholders, or in any manner seek to convey the impression that the financial resources of its stockholders above the limit provided by law are available for the purpose of meeting its liabilities. History:  (7657) 1911 c 323 s 2; 1925 c 169; 1931 c 380
MN Stat § 47.096 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.096 — Time Deposits; Notice Of Automatic Renewal.

47.096 TIME DEPOSITS; NOTICE OF AUTOMATIC RENEWAL. If a deposit for a term of one year or more, including a savings certificate and a certificate of deposit, is automatically renewable by its own terms if not redeemed at a specified redemption date, the financial corporation receiving the deposit shall give mailed written notice to the owner or holder of the deposit not less than 30 days prior to the redemption date. The written notice shall be sent to the last known address of the owner or holder as filed with the financial corporation, shall state the date of the automatic renewal and shall state any penalty diminution of interest or other consequences to the owner or holder arising out of the failure to redeem prior to automatic renewal. In lieu of complying with the provisions of this section, a financial corporation may comply with the requirements of the federal Truth in Savings Act and regulations, notwithstanding whether or not that act or those regulations apply to the deposit. History:  1976 c 187 s 1; 1993 c 257 s 7
MN Stat § 47.101 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.101 — Place Of Business; Relocation, Disposal.

47.101 PLACE OF BUSINESS; RELOCATION, DISPOSAL. Subdivision 1. Approval. A bank, trust company, savings bank, or savings association may change its location, dispose of its place of business, and acquire another upon the written approval of the commissioner of commerce or otherwise as provided for in this section. Subd. 2. Banking institutions; certain relocations, applications, notice, approval. A banking institution defined in section 48.01, subdivision 2, desiring to relocate its main office within the lesser of a radius of three miles measured in a straight line or the municipality, as defined in section 47.51, in which it is located shall notify the commissioner of commerce in a form prescribed by the commissioner of commerce. The applicant shall publish once in a form prescribed by the commissioner a notice of the relocation in a qualified newspaper published in the municipality where the banking institution is located. If there are no such newspapers, then notice shall be published in qualified newspapers likely to give notice in the municipality. The applicant shall cause the notice to be publicly displayed in its lobby. Subd. 3. Applications to Department of Commerce. An application by a banking institution to relocate its main office other than those provided for in subdivision 2 shall be accompanied by a filing fee of $3,000 payable to the commissioner of commerce and approved or disapproved by the commissioner of commerce as provided for in sections 46.041 and 46.044. History:  1982 c 473 s 6; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1985 c 248 s 13,14; 1989 c 166 s 3; 1992 c 587 art 1 s 8; 1995 c 202 art 1 s 25; 1996 c 414 art 3 s 1,2; 1999 c 151 s 7; 2003 c 51 s 4
MN Stat § 47.11 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.11 — Selection Of Name.

47.11 SELECTION OF NAME. Before execution of the certificate of incorporation of any such corporation or conduct of business under an assumed name, its proposed name or proposed assumed name shall be submitted to the commissioner of commerce, who shall compare it with those of corporations operating in the state, and if it is likely to be mistaken for any of them, or to confuse the public as to the character of its business, or is otherwise objectionable, additional names shall be submitted until a satisfactory one is selected, whereupon the commissioner shall issue a certificate of approval thereof. History:  (7644) RL s 2972; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444; 1995 c 202 art 1 s 5
MN Stat § 47.13 (2021)
2021 Minnesota Statutes|Chapters 46 - 59 — Banking|Chapter 47 — Financial Corporations|Section 47.13 — Application Of Business Corporation Act.

47.13 APPLICATION OF BUSINESS CORPORATION ACT. The provisions of chapter 302A, other than sections 302A.471, 302A.473, 302A.671, 302A.673, 302A.675, and 302A.701 to 302A.791, apply to corporations formed for any of the purposes specified in section 47.12, except: (1) that section 302A.215, subdivisions 2 and 3, only apply if the corporation's certificate of incorporation provides cumulative voting; and (2) to the extent those provisions are inconsistent with any of the provisions of this chapter and chapters 46 to 50. History:   2005 c 69 art 1 s 2