as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to financial institutions; permitting 1.3 location of a branch bank in Chisago Lakes township 1.4 under certain conditions. 1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6 Section 1. [CHISAGO LAKES TOWNSHIP; DETACHED BANKING 1.7 FACILITY.] 1.8 With the prior approval of the commissioner of commerce, a 1.9 bank operating its principal office in Marine on St. Croix may 1.10 establish and maintain not more than one detached facility in 1.11 Chisago Lakes township. A bank desiring to establish such a 1.12 detached facility must follow the approval procedure prescribed 1.13 in Minnesota Statutes, section 47.54. The establishment of a 1.14 detached facility under this section is subject to Minnesota 1.15 Statutes, sections 47.51 to 47.57, except to the extent those 1.16 sections are inconsistent with this section. 1.17 Sec. 2. [LOCAL APPROVAL.] 1.18 Section 1 takes effect the day after compliance by the 1.19 governing body of Chisago Lakes township with Minnesota 1.20 Statutes, section 645.021, subdivision 3.