2004 Minnesota Code
Chapters 46 - 59 Banking
Chapter 46 General Banking Powers
Section 46.34 Certain securities deposited with the commissioner of finance.
46.34 Certain securities deposited with the commissioner of finance.
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 finance, 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 finance shall perform all the duties with regard to the safekeeping of these securities which the commissioner is now required to perform. The commissioner of finance 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 finance shall accept, release, surrender, and permit substitutions of securities assigned to and deposited with the commissioner of finance under the provisions of Laws 1923, chapter 155, upon order of the commissioner.
HIST: 1987 c 349 art 1 s 4; 2003 c 112 art 2 s 50
Disclaimer: These codes may not be the most recent version. Minnesota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
