2005 Minnesota Statutes - 48.23 — Bank not to lend on its own stock or purchase same.

     48.23 Bank not to lend on its own stock or purchase same.


    Any such bank shall make no loan or discount on the 
 security of its own capital stock, nor be the purchaser or 
 holder thereof, unless necessary to prevent loss upon a debt 
 previously contracted in good faith, and all stock so acquired 
 shall be disposed of, at public or private sale, within six 
 months after it is so acquired.  


    HIST: (7676) RL s 2992