reglab/statecodes huggingface dataset:
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.33 — Prohibited Practices For Coordinators And Instructors.

45.33 PROHIBITED PRACTICES FOR COORDINATORS AND INSTRUCTORS.
Subdivision 1.
Prohibitions.
In connection with an approved course, coordinators and instructors must not:
(1) recommend or promote the services or practices of a particular business;
(2) encourage or recruit individuals to engage the services of, or become associated with, a particular business;
(3) use materials, clothing, or other evidences of affiliation with a particular entity, except as provided under subdivision 3;
(4) require students to participate in other programs or services offered by the instructor, coordinator, or education provider;
(5) attempt, either directly or indirectly, to discover questions or answers on an examination for a license;
(6) disseminate to any other person specific questions, problems, or information known or believed to be included in licensing examinations;
(7) misrepresent any information submitted to the commissioner;
(8) fail to cover, or ensure coverage of, all points, issues, and concepts contained in the course outline approved by the commissioner during the approved instruction; and
(9) issue inaccurate course completion certificates.
Subd. 2.
Notification of disciplinary action.
Coordinators must notify the commissioner within ten days of a felony or gross misdemeanor conviction or of disciplinary action taken against an occupational license held by the coordinator or an instructor teaching an approved offering. The notification may be grounds to suspend, deny, or revoke the approval of the coordinator and grounds to disallow the use of a particular instructor.
Subd. 3.
Exceptions.
In connection with an approved course, coordinators and instructors may:
(1) display a company or course provider's logo or branding;
(2) establish a trade show or conference booth outside the classroom where the educational content is being delivered that is separate from a registration location used to track or facilitate student attendance;
(3) display the logo or branding associated with a particular entity to thank the entity as an organizational partner of the course provider during a scheduled and approved break in the delivery of course content. The display must be separate from a registration location used to track or facilitate student attendance; and
(4) display a third-party logo, promotion, advertisement, or affiliation with a particular entity as part of a course program or advertising for an approved course. For purposes of this clause, "course program" means digital or paper literature describing the schedule of the events, presenters, duration, or background information of the approved course or courses. A course program may be made available in the classroom or at a registration location used to track or facilitate student attendance.
History:
2009 c 63 s 14,78; 2021 c 16 s 4,5
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.34 — Fees.

45.34 FEES.
Fees for approved courses and related materials must be clearly identified to students. In the event that a course is canceled for any reason, all fees must be returned within 15 days from the date of cancellation. In the event that a course is postponed for any reason, students must be given the choice of attending the course at a later date or of having their fees refunded in full. If a student is unable to attend a course or cancels the registration in a course, education provider policies regarding refunds will govern.
History:
2009 c 63 s 15,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.35 — Facilities.

45.35 FACILITIES.
Each course of study, except on-demand courses, must be conducted in a classroom or other facility that is adequate to comfortably accommodate the faculty and the number of students enrolled. The education provider may limit the number of students enrolled in a course. Approved courses must not be held on the premises of a company doing business in the regulated area, except for company-sponsored courses allowed by statute or noncompany-sponsored courses offered by a bona fide trade association. A bona fide trade association may offer noncompany-sponsored courses on the premises of an insurance company or agency so long as the course is not restricted to employees or appointed agents of the insurance company or agency.
History:
2009 c 63 s 16,78; 2011 c 108 s 8; 2022 c 74 s 8
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.36 — Supplementary Materials.

45.36 SUPPLEMENTARY MATERIALS.
An adequate supply of supplementary materials to be used or distributed in connection with an approved course must be available in order to ensure that each student receives all necessary materials. Outlines and any other materials that are reproduced must be legible.
History:
2009 c 63 s 17,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.37 — Advertising Courses.

45.37 ADVERTISING COURSES.
(a) Paragraphs (b) to (f) govern the advertising of prelicense and continuing education courses.
(b) Advertising must be truthful and not deceptive or misleading. Courses must not be advertised in any manner as approved unless approval has been granted in writing by the commissioner.
(c) No advertisement, pamphlet, circular, or other similar materials pertaining to an approved offering may be circulated or distributed in this state, unless one of the following statements is prominently displayed:
For prelicense education courses, "This course has been approved by the Minnesota Commissioner of Commerce for (relevant industry) prelicense education."
For continuing education courses, "This course has been approved by the Minnesota Commissioner of Commerce for ..... hours for (relevant industry) continuing education."
(d) Advertising of approved courses must be clearly distinguishable from the advertisement of other nonapproved courses and services.
(e) Courses must not be advertised before approval, unless the course is described in the advertising as "approval pending" and that is, in fact, the case.
(f) The number of hours for which a course has been approved must be prominently displayed on an advertisement for the course. If the course offering is longer than the number of hours of credit to be given, it must be clear that credit is not earned for the entire course.
History:
2009 c 63 s 18,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.38 — Notice To Students.

45.38 NOTICE TO STUDENTS.
At the beginning of each approved offering, the following notice must be handed out in printed form or must be read to students: "This educational offering is recognized by the Minnesota Commissioner of Commerce as satisfying ..... hours of credit toward (choose one or more of the following as appropriate: prelicensing or continuing) (insert appropriate industry) education requirements."
History:
2009 c 63 s 19,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.40 — Falsification Of Reports.

45.40 FALSIFICATION OF REPORTS.
A licensee or applicant found to have falsified an education report to the commissioner will be considered to have violated the laws relating to the industry for which the person has a license and will be subject to suspension or revocation of the license or denial of the application for licensure.
The commissioner reserves the right to audit a licensee's education records.
History:
2009 c 63 s 21,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.41 — Disciplinary Action.

45.41 DISCIPLINARY ACTION.
The commissioner may deny, censure, suspend, or revoke the approval of a coordinator or course and disallow the use of a qualified instructor if it is determined that the coordinator, course, or instructor is not in compliance with this chapter.
History:
2009 c 63 s 22,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.42 — Waivers And Extensions.

45.42 WAIVERS AND EXTENSIONS.
Subdivision 1.
[Repealed, 2014 c 222 art 1 s 58]
Subd. 2.
Extensions.
When a licensee documents to the commissioner's satisfaction that the person is unable to complete continuing education requirements within the required time period owing to a financial or medical hardship, the commissioner may extend, for up to 90 days, the time period during which the continuing education must be successfully completed. Loss of income from either attendance at courses or cancellation of a license is not a bona fide financial hardship. Requests for extensions must be submitted in writing no later than 60 days before the education is due and must include an explanation with verification of the hardship, plus verification of enrollment in an approved course of study.
Subd. 3.
Exception.
This section does not apply to appraiser license education.
History:
2009 c 63 s 23,78
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45 — Department Of Commerce; General Powers › Section 45.43 — Reporting Requirements.

45.43 REPORTING REQUIREMENTS.
Subdivision 1.
Course completions.
Required education must be reported in a manner prescribed by the commissioner within ten days of the course completion.
Subd. 2.
Violations and penalties.
(a) Each failure to report an individual licensee's course completion in the manner prescribed by subdivision 1 constitutes a separate violation.
(b) The commissioner may impose a civil penalty not to exceed $500 per violation upon an education provider that violates subdivision 1.
History:
2009 c 63 s 24,78; 2013 c 135 art 3 s 5
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45A — Financial Exploitation Protections For Older Or Vulnerable Adults › Section 45A.01 — Definitions.

45A.01 DEFINITIONS.
Subdivision 1.
Scope and application.
For purposes of this chapter, the terms in this section have the meanings given them.
Subd. 2.
Broker-dealer.
"Broker-dealer" has the meaning given in section 80A.41.
Subd. 3.
Commissioner.
"Commissioner" means the commissioner of commerce.
Subd. 4.
Common entry point.
"Common entry point" has the meaning given in section 626.5572, subdivision 5.
Subd. 5.
Eligible adult.
"Eligible adult" means:
(1) a person 65 years of age or older; or
(2) a person subject to section 626.5572, subdivision 21.
Subd. 6.
Financial exploitation.
"Financial exploitation" means:
(1) the wrongful or unauthorized taking, withholding, appropriation, expenditure, or use of money, assets, or property of an eligible adult; or
(2) an act or omission taken by a person, including through the use of a power of attorney, guardianship, trustee, or conservatorship of an eligible adult, to:
(i) obtain control, through deception, intimidation, or undue influence, over the eligible adult's money, assets, or property to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult's money, assets, or property; or
(ii) convert money, assets, or property of the eligible adult to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult's money, assets, or property.
Subd. 6a.
Financial services provider.
"Financial services provider" means: (1) a bank, bank and trust, trust company with banking powers, savings bank, savings association, or credit union organized under the laws of Minnesota, any other state, or the United States; (2) an industrial loan and thrift under chapter 53; or (3) a regulated lender under chapter 56.
Subd. 7.
Investment adviser.
"Investment adviser" has the meaning given in section 80A.41(16), except for section 80A.41(16)(E). Investment adviser includes a federal covered investment adviser, as defined under section 80A.41(7).
Subd. 8.
Lead investigative agency.
"Lead investigative agency" has the meaning given in section 626.5572, subdivision 13.
History:
2018 c 161 s 1; 2019 c 59 s 1; 2020 c 85 s 1
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45A — Financial Exploitation Protections For Older Or Vulnerable Adults › Section 45A.02 — Governmental Disclosures.

45A.02 GOVERNMENTAL DISCLOSURES.
(a) If a broker-dealer or investment adviser reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the broker-dealer or investment adviser may promptly notify the commissioner and the common entry point.
(b) If a financial services provider reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the financial services provider may promptly notify the common entry point.
History:
2018 c 161 s 2; 2020 c 85 s 2
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45A — Financial Exploitation Protections For Older Or Vulnerable Adults › Section 45A.03 — Immunity For Governmental Disclosures.

45A.03 IMMUNITY FOR GOVERNMENTAL DISCLOSURES.
(a) A broker-dealer or investment adviser who, in good faith, makes a disclosure of information pursuant to section 45A.02, paragraph (a), cooperates with a civil or criminal investigation of financial exploitation of an eligible adult, or testifies about alleged financial exploitation of an eligible adult in a judicial or administrative proceeding is immune from administrative, civil, or criminal liability that might otherwise arise from the disclosure or testimony or for failure to notify the customer of the disclosure or testimony.
(b) A financial services provider or an employee of a financial services provider who, in good faith, makes a disclosure of information pursuant to section 45A.02, paragraph (b), cooperates with a civil or criminal investigation of financial exploitation of an eligible adult, or testifies about alleged financial exploitation of an eligible adult in a judicial or administrative proceeding is immune from administrative, civil, or criminal liability that might otherwise arise from the disclosure or testimony or for failure to notify the customer of the disclosure or testimony.
History:
2018 c 161 s 3; 2020 c 85 s 3
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45A — Financial Exploitation Protections For Older Or Vulnerable Adults › Section 45A.04 — Third-party Disclosures.

45A.04 THIRD-PARTY DISCLOSURES.
If a broker-dealer, investment adviser, or financial services provider reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, a broker-dealer, investment adviser, or financial services provider may notify a third party reasonably associated with the eligible adult or any other person permitted under state or federal law or rule, rules of a self-regulating organization, or customer agreement. Disclosure may not be made to a third party that is suspected of financial exploitation or other abuse of the eligible adult.
History:
2018 c 161 s 4; 2020 c 85 s 4
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45A — Financial Exploitation Protections For Older Or Vulnerable Adults › Section 45A.05 — Immunity For Third-party Disclosures.

45A.05 IMMUNITY FOR THIRD-PARTY DISCLOSURES.
(a) A broker-dealer or investment adviser who, in good faith, complies with section 45A.04 is immune from administrative, civil, or criminal liability that might otherwise arise from the disclosure.
(b) A financial services provider or an employee of a financial services provider who, in good faith, complies with section 45A.04 is immune from administrative, civil, or criminal liability that might otherwise arise from the disclosure.
History:
2018 c 161 s 5; 2020 c 85 s 5
2023 Minnesota Statutes › Chapters 44A - 45A — Commerce › Chapter 45A — Financial Exploitation Protections For Older Or Vulnerable Adults › Section 45A.07 — Immunity For Delaying Disbursements.

45A.07 IMMUNITY FOR DELAYING DISBURSEMENTS.
(a) A broker-dealer or investment adviser that, in good faith, complies with section 45A.06, subdivision 1, or the commissioner of commerce, law enforcement agency, or prosecuting attorney's office is immune from administrative, civil, or criminal liability that might otherwise arise from the delay in a disbursement or placing a hold on a transaction in accordance with this chapter.
(b) A financial services provider, or an employee of a financial services provider, that, in good faith, complies with section 45A.06, subdivision 2, or the commissioner of commerce, law enforcement agency, or prosecuting attorney's office is immune from administrative, civil, or criminal liability that might otherwise arise from the delay of a disbursement or placing a hold on a transaction in accordance with this chapter.
(c) A party that, in good faith and in compliance with section 45A.06, delays or places a hold on a disbursement or transaction directed by an attorney-in-fact shall not be deemed to have refused to accept the authority of the attorney-in-fact for purposes of section 523.20.
History:
2018 c 161 s 7; 2020 c 85 s 7
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.01 — Powers.

46.01 POWERS.
Subdivision 1.
General.
The Department of Commerce shall have charge of the execution of all laws relating to state banks, savings banks, trust companies, savings associations, and other financial institutions organized under the laws of this state, and the business thereof.
Subd. 2.
Rulemaking.
The commissioner of commerce may promulgate rules as necessary to administer or execute the laws relating to financial institutions subject to the commissioner's supervision or examination.
History:
(5320) 1909 c 201 s 1; 1977 c 272 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.042 — Notice And Hearing, When Not Given.

46.042 NOTICE AND HEARING, WHEN NOT GIVEN.
The commissioner of commerce may dispense with the notice and hearing provided for by section 46.041 if application is made for the incorporation of a new bank to take over the assets of one or more existing banks or if the application contemplates the reorganization of a national bank into a state bank in the same locality, or where the application is made for the incorporation of a new bank in the same locality coincidental with the closing of an existing bank by the commissioner or federal authorities. This section does not increase the number of banks in the community affected.
History:
(3997-1) 1929 c 146 s 1; 1983 c 289 s 17,114 subd 2; 1986 c 444; 1987 c 349 art 1 s 1
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.044 — Bank Charters.

46.044 BANK CHARTERS.
Subdivision 1.
Issuance and conditions.
An application for a bank charter must be granted if (1) the applicants are of good moral character and financial integrity, (2) there is a reasonable public demand for this bank in this location, (3) the probable volume of business in this location is sufficient to insure and maintain the solvency of the new bank and the solvency of the then existing bank or banks in the locality without endangering the safety of any bank in the locality as a place of deposit of public and private money, (4) the commissioner of commerce is satisfied that the proposed bank will be properly and safely managed, and (5) the commissioner is satisfied that the capital funds required pursuant to section 48.02 are available and the commissioner may accept any reasonable demonstration including subscription agreements supported by current financial statements. If the application does not satisfy the requirements of this subdivision, it must be denied. In case of the denial of the application, the commissioner of commerce shall specify the grounds for the denial. A person aggrieved may obtain judicial review of the determination in accordance with chapter 14.
Subd. 2.
Expiration and extension of order.
If a bank charter is not activated within 18 months from the date of the order, the approval order automatically expires. Upon request of the applicant prior to the automatic expiration date of the order, the commissioner may grant reasonable extensions of time to the applicant to activate the facility as the commissioner deems necessary. The extensions of time shall not exceed a total of an additional 12 months. If the commissioner's order is the subject of an appeal in accordance with chapter 14, the time period referred to in this section for activation of the bank charter and any extensions shall begin when all appeals or rights of appeal from the commissioner's order have concluded or expired.
Subd. 3.
Special purpose banks, exceptions.
For purposes of applications to organize and operate special purpose banks as defined in section 46.046, subdivision 5, the conditions in subdivision 1, clauses (2) and (4), do not apply.
History:
(3999) 1919 c 86 s 3; 1983 c 247 s 23; 1983 c 289 s 19,114 subd 2; 1986 c 339 s 1; 1Sp1986 c 3 art 2 s 23; 1992 c 587 art 1 s 2; 1993 c 257 s 2; 1996 c 414 art 1 s 4; 1997 c 157 s 2; 2008 c 277 art 1 s 3
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.046 — Definitions.

46.046 DEFINITIONS.
Subdivision 1.
Words, terms, and phrases.
Unless the language or context clearly indicates that a different meaning is intended, the word defined in subdivision 2, for the purposes of sections 46.041 to 46.044, shall be given the meaning subjoined to it; and the word defined in subdivision 3, for the purposes of chapters 46 to 83, shall be given the meaning subjoined to it.
Subd. 2.
Bank.
The word "bank" means any savings bank or bank of discount or deposit or trust company organized under the laws of this state.
Subd. 2a.
Banking institution.
"Banking institution" means a bank, trust company, bank and trust company, savings bank, or industrial loan and thrift operating under section 53.04, subdivision 5, that is organized under the laws of this state, or a holding company which owns or otherwise controls the banking institution.
Subd. 3.
Department.
"Department" means the Department of Commerce of the state of Minnesota.
Subd. 4.
Commissioner.
"Commissioner" means the commissioner of commerce.
Subd. 5.
Special purpose bank.
"Special purpose bank" means a bank as defined in subdivision 2 that:
(1) engages only in credit card operations as authorized in section 47.59;
(2) does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others;
(3) does not accept savings or time deposits of less than $100,000;
(4) maintains only one office that accepts deposits; and
(5) does not engage in the business of making commercial loans.
History:
(4000) 1925 c 261 s 1,2; 1983 c 289 s 21,22,114 subd 2; 1985 c 248 s 12; 1995 c 202 art 1 s 4; 1997 c 157 s 3; 2014 c 222 art 1 s 3
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.05 — Supervision Over Financial Institutions.

46.05 SUPERVISION OVER FINANCIAL INSTITUTIONS.
Every state bank, savings bank, trust company, savings association, debt management services provider, debt settlement services provider, and other financial institutions shall be at all times under the supervision and subject to the control of the commissioner of commerce. If, and whenever in the performance of duties, the commissioner finds it necessary to make a special investigation of any financial institution under the commissioner's supervision, and other than a complete examination, the commissioner shall make a charge therefor to include only the necessary costs thereof. Such a fee shall be payable to the commissioner on the commissioner's making a request for payment.
History:
(5324) 1909 c 201 s 5; 1965 c 171 s 2; 1977 c 272 s 3; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444; 2007 c 57 art 3 s 5; 2009 c 37 art 4 s 3
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.06 — Refusal To Obey Directions Of Commissioner.

46.06 REFUSAL TO OBEY DIRECTIONS OF COMMISSIONER.
Every person who shall refuse or neglect to obey any lawful direction or order of the commissioner of commerce; withhold any information, book, record, paper or other thing called for by the commissioner for the purpose of examination and ascertaining the true condition of the corporation; willfully obstruct or mislead the commissioner in the execution of duties, or falsely swear concerning any matter stated under oath, shall be guilty of a felony; the minimum penalty thereof shall be a fine of $3,000, or imprisonment in the Minnesota Correctional Facility-Stillwater for one year.
History:
(5325) 1909 c 201 s 6; 1979 c 102 s 13; 1983 c 289 s 114 subd 1; 1984 c 628 art 3 s 11; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.07 — Records.

46.07 RECORDS.
Subdivision 1.
Department records.
The commissioner of commerce shall keep all proper records and files pertaining to the duties and work of that office.
Subd. 2.
Confidential records.
The commissioner shall divulge facts and information obtained in the course of examining financial institutions under the commissioner's supervision only when and to the extent required or permitted by law to report upon or take special action regarding the affairs of an institution, or ordered by a court of law to testify or produce evidence in a civil or criminal proceeding, except that the commissioner may furnish information as to matters of mutual interest to an official or examiner of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Office of Thrift Supervision, the Federal Home Loan Bank System, the National Credit Union Administration, comptroller of the currency, other state bank supervisory agencies subject to cooperative agreements authorized by section 49.411, subdivision 7, the United States Small Business Administration, for purposes of sections 53.09, subdivision 2a, and 56.10, subdivision 1, or state and federal law enforcement agencies. The commissioner shall not be required to disclose the name of a debtor of a financial institution under the commissioner's supervision, or anything relative to the private accounts, ownership, or transactions of an institution, or any fact obtained in the course of an examination thereof, except as herein provided. For purposes of this subdivision, a subpoena is not an order of a court of law. These records are classified confidential or protected nonpublic for purposes of the Minnesota Government Data Practices Act and their destruction, as prescribed in section 46.21, is exempt from the provisions of chapter 138 and Laws 1971, chapter 529, so far as their deposit with the state archives.
Subd. 3.
Complaint files.
Notwithstanding the provisions of subdivision 2 to the contrary, data gathered and maintained in relation to a complaint filed with the commissioner is private or nonpublic pursuant to the Minnesota Government Data Practices Act.
History:
(5326) 1909 c 201 s 7; 1921 c 250 s 1; 1955 c 847 s 6; 1967 c 102 s 1; 1969 c 1129 art 4 s 8; 1971 c 9 s 1; 1982 c 473 s 2; 1983 c 250 s 2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1Sp1985 c 13 s 176,177; 1986 c 444; 1987 c 349 art 1 s 2; 1992 c 587 art 1 s 5; 1997 c 157 s 5
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.08 — Employees.

46.08 EMPLOYEES.
Subdivision 1.
Assistant commissioner, examiners and other employees.
The commissioner of commerce may appoint an assistant commissioner and such examiners, assistant examiners, stenographers, and such other employees as may be necessary to carry out the duties and responsibilities entrusted, subject to such rules as may be established by civil service with regard to qualifications and general fitness. During the absence or disability of the commissioner of commerce said assistant commissioner shall have charge of the office and administer its affairs. Such examiners shall confine their work to those institutions which are subject to the supervision of the commissioner of commerce and may be transferred from one supervisory district to another at the option of said commissioner when it shall appear that the interest of the Department of Commerce shall be better served by so doing.
Subd. 2.
Examiner in charge of liquidation.
The commissioner of commerce may appoint an examiner in charge of liquidation and such special deputy examiners and other employees as are needed in the liquidation of banks. The certificates of appointment of the examiner in charge of liquidation, and of such special deputy examiners shall be filed in the office of the commissioner of commerce and a certified copy thereof shall be filed in the Office of the Secretary of State and in the office of the court administrator of the district court of the county in which the principal office of the bank concerned was located. The qualifications of such examiner in charge of liquidation and special deputy examiners shall be the same as prescribed in subdivision 1 for examiners. The commissioner of commerce may from time to time authorize any such special deputy examiner to perform such duties connected with such liquidation and distribution as the commissioner may deem proper. The commissioner of commerce shall require from the examiner in charge of liquidation and each special deputy examiner such bond for the faithful discharge of duties as the commissioner may deem proper. The commissioner of commerce may procure such expert assistance as may be necessary in the liquidation and distribution of the assets of such bank and may retain such of its officers or employees as the commissioner may deem necessary.
Subd. 3.
Examiners not to examine institutions in which they have a financial interest.
No examiner shall have the right to examine any bank, savings bank or other financial corporation in which the examiner may have an interest, either directly or indirectly.
History:
(5327) 1909 c 201 s 8; 1919 c 121; 1921 c 42; 1923 c 371 s 1; 1943 c 442 s 1; 1957 c 601 s 3; 1959 c 88 s 2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1985 c 248 s 70; 1986 c 444; 1Sp1986 c 3 art 1 s 82; 1991 c 326 s 3
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.09 — Department Of Commerce Examiners Or Employees Not To Maintain Interest In Supervised Institutions.

46.09 DEPARTMENT OF COMMERCE EXAMINERS OR EMPLOYEES NOT TO MAINTAIN INTEREST IN SUPERVISED INSTITUTIONS.
Subdivision 1.
Prohibition.
No person who is an examiner of financial institutions or other officer of the Department of Commerce directly responsible for the supervision of financial institutions shall be interested, either directly or indirectly, as a stockholder, director, officer, trustee, assignee, employee, or otherwise, in a bank, savings bank, trust company, financial institution, or corporation holding the stock of any such corporation within this state, or which carries on a banking business within this state, either directly or indirectly, or through an affiliated group or chain bank operating within this state. The provisions of this subdivision do not apply to the commissioner of commerce.
Subd. 2.
Exceptions.
Officers and examiners of the Department of Commerce referred to in subdivision 1 may:
(1) maintain a demand or trust account in any financial institution;
(2) maintain a savings, time or share account in any financial institution;
(3) transact business with any national bank, federally chartered savings association or federally chartered credit union;
(4) transact business with any financial institution or licensee subject to the examination by the commissioner of commerce to the extent the transaction is on the same terms, conditions and to the same extent available to all other customers of the financial institution or licensee.
Subd. 3.
Loans and credit advances.
The exceptions created in subdivision 2 do not include a loan or advance of credit from a financial institution or licensee subject to examination by the commissioner of commerce. A transaction not specifically exempt by subdivision 2, clauses (1) to (3), is subject to disclosure to the commissioner of commerce upon request to determine if a conflict of interest exists or interest contemplated by subdivision 1.
Subd. 4.
Application.
This section applies to those employees, examiners, and officers of the Department of Commerce who are directly responsible for the examination and supervision of financial institutions or licensees.
History:
(5328) 1915 c 164 s 1; 1931 c 43 s 1; 1977 c 272 s 4; 1981 c 31 s 1; 1982 c 473 s 3; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444; 1993 c 257 s 5; 1995 c 202 art 1 s 25
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.10 — Penalty For Violation.

46.10 PENALTY FOR VIOLATION.
Any person violating the provisions of section 46.09 shall be disqualified from holding any office or employment in the Department of Commerce and shall be removed from such office or employment by the commissioner of commerce immediately upon knowledge of the violation.
History:
(5328-1) 1931 c 43 s 2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.11 — Examiners' Districts.

46.11 EXAMINERS' DISTRICTS.
For the purpose of the better administration of the department, the commissioner of commerce shall divide the counties of the state into as many districts for the purpose of supervision as may be practical, taking into consideration the volume of work represented and the number of examiners or assistants available, and shall also designate the district in which each of the examiners or assistants appointed under the provisions of section 46.08 shall make examinations. In arranging the districts, the commissioner of commerce shall also consider the matter of convenience and economy as much as possible in covering the same by examiners.
History:
(5329) 1909 c 201 s 9; 1959 c 88 s 3; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.12 — Reports Of Examiners.

46.12 REPORTS OF EXAMINERS.
Each examiner appointed under Laws 1909, chapter 201, as amended, shall make report to the commissioner of commerce immediately after the completion of an examination of the actual financial condition of the institution examined, with such recommendations and suggestions as the examiner may deem advisable.
History:
(5330) 1909 c 201 s 10; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.14 — Examiners' Powers Enlarged.

46.14 EXAMINERS' POWERS ENLARGED.
The examiner in charge of liquidation in the Department of Commerce is hereby authorized to sign the name of the commissioner of commerce and to act for the commissioner in all matters connected with the liquidation of insolvent corporations under the supervision and control of the commissioner of commerce, with the same force and effect as though the commissioner had signed or acted; provided, that the examiner shall have no authority to order an assessment against the stockholders of an insolvent state bank or trust company under the provisions of Laws 1927, chapter 254, as amended.
History:
(5332-1) 1931 c 137; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.17 — Salary Of Examiner In Charge Of Liquidation.

46.17 SALARY OF EXAMINER IN CHARGE OF LIQUIDATION.
The commissioner of commerce shall fix the salary of the examiner in charge of liquidation appointed by the commissioner, but not to exceed the salary of a bank examiner in the classified service of the state and the same shall be paid out of the funds of banks in the hands of the commissioner of commerce for liquidation.
History:
(252(9)) 1913 c 400 s 1; 1933 c 232 s 2; 1959 c 88 s 4; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.21 — Destruction Of Certain Records.

46.21 DESTRUCTION OF CERTAIN RECORDS.
Subdivision 1.
Reports, correspondence.
After ten years, the commissioner of commerce may dispose of any examination report, call report of the condition of state banks, earnings and dividend report, oath of office of director, examining committee report, or any correspondence with reference to any examination report. After a period of two years the commissioner of commerce need not retain the examiner's original pencil copy of any examination report.
Subd. 2.
Upon liquidation.
At any time after ten years from the date of payment of the final dividend in liquidation, the commissioner of commerce may destroy the records, documents, or correspondence of any financial corporation of which the commissioner has taken possession or any records, documents, or correspondence relating to liquidation of any financial corporation which has been liquidated.
History:
1957 c 505 s 1,2; 1981 c 220 s 4; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.23 — Unsafe Practices; Definitions.

46.23 UNSAFE PRACTICES; DEFINITIONS.
Subdivision 1.
Scope.
For purposes of sections 46.23 to 46.33, the following terms shall have the meanings here given them.
Subd. 2.
Cease and desist order which has become final; order which has become final.
"Cease and desist order which has become final" and "order which has become final" mean a cease and desist order, or an order issued by the commissioner with the consent of the institution or the director, trustee, officer, or other person concerned, with respect to which no timely petition for review of the action of the commissioner has been filed in a district court as specified in section 46.30, subdivision 2, or with respect to which the action of the court in which a petition for review has been filed is not subject to further review by the courts of the state.
Subd. 3.
Commissioner.
"Commissioner" means the commissioner of commerce.
Subd. 4.
Institution.
"Institution" means a bank, savings bank, savings association, trust company, credit union, industrial loan and thrift company, small loan company, safe deposit company, investment company, debt prorating agency, insurance premium finance company, or motor vehicle retail installment sales finance company subject to the supervision of the commissioner.
Subd. 5.
Violation.
"Violation" includes without limitation any action, alone or with others, toward causing, bringing about, participating in, counseling, or aiding or abetting a violation.
History:
1978 c 544 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.29 — Board Of Directors Or Trustees, Lack Of Quorum, Temporary Directors Or Trustees.

46.29 BOARD OF DIRECTORS OR TRUSTEES, LACK OF QUORUM, TEMPORARY DIRECTORS OR TRUSTEES.
If at any time because of the suspension or removal of one or more directors or trustees pursuant to sections 46.23 to 46.33, the board of directors or trustees of an institution has less than a quorum of directors or trustees not so suspended or removed, all powers and functions vested in, or exercisable by, the board shall vest in and be exercisable by the directors or trustees of the board not so suspended or removed until such time as there is a quorum of the board of directors or trustees. If all of the directors or trustees of an institution have been suspended or removed, the commissioner shall appoint persons to serve temporarily as directors or trustees, pending the termination of the suspensions or removals, or until such time as their successors are duly elected and take office.
History:
1978 c 544 s 4
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.30 — Hearings, Decision; Review, Modification, Termination Or Stay Of Orders.

46.30 HEARINGS, DECISION; REVIEW, MODIFICATION, TERMINATION OR STAY OF ORDERS.
Subdivision 1.
Conduct of hearing.
Any hearing provided for in sections 46.23 to 46.33 shall be conducted in accordance with the provisions of chapter 14, provided, the hearing shall be private unless the commissioner after fully considering the views of the party afforded the hearing determines that a public hearing is necessary to protect the public interest. After the hearing and within 90 days after the commissioner has notified the parties that the case has been submitted for final decision, the commissioner shall render a decision which shall include findings of fact upon which the decision is predicated and shall issue and serve upon each party to the proceeding an order consistent with the provisions of this section.
Subd. 2.
Order review.
Any party to the hearing, or any person required by an order issued under sections 46.23 to 46.33 to cease and desist from any of the violations or practices stated therein or to be suspended, removed, or prohibited from participation in the conduct of the affairs of an institution may obtain a review of any order, other than a consent order, which review shall be pursuant to chapter 14. Unless a petition for review is timely filed as provided in chapter 14, the commissioner, at any time, upon such notice and in such manner as the commissioner deems proper may modify, terminate, or set aside the order. Upon the timely filing of a petition for review, the commissioner may modify, terminate, or set aside the order with the permission of the court.
Subd. 3.
Restriction on order review.
No order issued under sections 46.23 to 46.33 shall be subject to review by the commissioner of commerce.
History:
1978 c 544 s 5; 1982 c 424 s 130; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.31 — Enforcement Of Notices Or Orders.

46.31 ENFORCEMENT OF NOTICES OR ORDERS.
The commissioner may apply to the district court of the county in which the home office of the institution is located or to the District Court for Ramsey County for the enforcement of any effective and outstanding notice or order issued under sections 46.23 to 46.33, and the court shall have jurisdiction to require compliance therewith.
History:
1978 c 544 s 6
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.32 — Violation Of Notice Or Final Order; Criminal Penalty.

46.32 VIOLATION OF NOTICE OR FINAL ORDER; CRIMINAL PENALTY.
Any director, trustee or officer, or former director, trustee or officer, of an institution or any other person against whom there is outstanding and effective any notice or final order served upon the director, trustee, officer, or other person pursuant to section 46.26 who (1) participates in any manner in the conduct of the affairs of such institution; (2) directly or indirectly solicits, procures, transfers, or attempts to transfer, votes, or attempts to vote any proxies, consents, or authorizations in respect to any voting rights in such institution; or (3) without the prior written approval of the commissioner, votes for a director or trustee or serves as a director, trustee, officer, or employee of such institution is guilty of a gross misdemeanor and may be fined not more than $10,000 or imprisoned for not more than 364 days, or both.
History:
1978 c 544 s 7; 1984 c 628 art 3 s 11; 2023 c 52 art 6 s 16
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.33 — Manner Of Service; Copies To Federal Authorities; Cease And Desist Orders.

46.33 MANNER OF SERVICE; COPIES TO FEDERAL AUTHORITIES; CEASE AND DESIST ORDERS.
Any service required or authorized to be made by the commissioner pursuant to sections 46.23 to 46.33 may be made by registered or certified mail to the last known address of the person or principal Minnesota office of the institution to whom service is directed, or in such other manner reasonably calculated to give actual notice as the commissioner by rule or otherwise may provide. Copies of any notice or order served by the commissioner upon any institution or any director, trustee or officer thereof or other person participating in the conduct of its affairs, pursuant to the provisions of sections 46.23 to 46.33, may also be sent to the appropriate federal supervisory authorities.
History:
1978 c 544 s 8
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.34 — Certain Securities Deposited With The Commissioner Of Management And Budget.

46.34 CERTAIN SECURITIES DEPOSITED WITH THE COMMISSIONER OF MANAGEMENT AND BUDGET.
All securities required or permitted by law to be assigned to and deposited with the commissioner of commerce for any purpose must, after June 2, 1987, be assigned to and deposited with the commissioner of management and budget, who shall give a receipt therefor. This receipt must be filed with the commissioner, in lieu of the securities, and in this case neither the commissioner nor the commissioner's bonding agents are responsible for the safekeeping of these securities. The commissioner of management and budget shall perform all the duties with regard to the safekeeping of these securities which the commissioner is now required to perform. The commissioner of management and budget is subject to the same obligations and under the same liability, with reference to the safekeeping of these securities, as the commissioner. The commissioner of management and budget shall accept, release, surrender, and permit substitutions of securities assigned to and deposited with the commissioner of management and budget under the provisions of Laws 1923, chapter 155, upon order of the commissioner.
History:
1987 c 349 art 1 s 4; 2003 c 112 art 2 s 50; 2009 c 101 art 2 s 109
2023 Minnesota Statutes › Chapters 46 - 59 — Banking › Chapter 46 — General Banking Powers › Section 46.35 — Interpretations.

46.35 INTERPRETATIONS.
The commissioner of commerce may upon request from an interested party give an interpretive opinion in connection with the administration of chapters 45 to 56. No penalty provision in these chapters or of any other chapter to which chapters 45 to 56 may refer applies to any act done or not done in conformity with a written interpretive opinion of the commissioner, notwithstanding that the written interpretive opinion may, after the act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
History:
1995 c 171 s 3