2005 Minnesota Statutes - 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.  


    HIST: (7657) 1911 c 323 s 2; 1925 c 169; 1931 c 380