2005 Minnesota Statutes - 47.55 — Existing banking facilities or branches of savings associations.

     47.55 Existing banking facilities or branches of savings 
  associations. 


    Subdivision 1.    Banking facilities in operation prior to 
 May 1, 1971.  A bank may retain and operate one detached 
 facility as it may have had in operation prior to May 1, 1971 
 without requirement of approval hereunder.  


    Subd. 2.    Facilities of banks or branches of savings 
 associations in operation prior to acquisition.  The purchase 
 of assets and assumption of liabilities of an existing detached 
 facility of another bank or branch of a savings association or 
 savings bank must follow the notice and approval procedures in 
 section 47.54 to establish and maintain a new detached facility 
 of the acquiring bank at that location but need not obtain the 
 consent of other banks as required by section 47.52. 


    HIST: 1971 c 855 s 5; 1977 c 378 s 5; 1992 c 587 art 1 s 13; 
 1993 c 257 s 11; 1995 c 202 art 1 s 25; 1997 c 157 s 10