2005 Minnesota Statutes - 47.0152 — Power of commissioner.

     47.0152 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.  


    HIST: 1971 c 318 s 2; 1Sp1985 c 13 s 180; 1986 c 444