1997 Minnesota Statutes

     47.52 Authorization. 

    (a) With the prior approval of the commissioner, any bank 
 doing business in this state may establish and maintain detached 
 facilities provided the facilities are located within:  (1) the 
 municipality in which the principal office of the applicant bank 
 is located; or (2) 5,000 feet of its principal office measured 
 in a straight line from the closest points of the closest 
 structures involved; or (3) a municipality in which no bank is 
 located at the time of application; or (4) a municipality having 
 a population of more than 10,000; or (5) a municipality having a 
 population of 10,000 or less, as determined by the commissioner 
 from the latest available data from the state demographer, or 
 for municipalities located in the seven-county metropolitan area 
 from the metropolitan council, and all the banks having a 
 principal office in the municipality have consented in writing 
 to the establishment of the facility. 

    (b) A detached facility shall not be closer than 50 feet to 
 a detached facility operated by any other bank and shall not be 
 closer than 100 feet to the principal office of any other bank, 
 the measurement to be made in the same manner as provided 
 above.  This paragraph shall not be applicable if the proximity 
 to the facility or the bank is waived in writing by the other 
 bank and filed with the application to establish a detached 
 facility. 

    (c) A bank is allowed, in addition to other facilities, 
 part-time deposit-taking locations at elementary and secondary 
 schools located within the municipality in which the main 
 banking house or a detached facility is located if they are 
 established in connection with student education programs 
 approved by the school administration and consistent with safe, 
 sound banking practices. 

    (d) A bank whose home state is Minnesota as defined in 
 section 48.92 is allowed, in addition to facilities otherwise 
 permitted, to establish and operate a de novo detached facility 
 in a location in the host states of Iowa, North Dakota, South 
 Dakota, and Wisconsin not more than 30 miles from its principal 
 office measured in a straight line from the closest points of 
 the closest structures involved and subject to requirements of 
 sections 47.54 and 47.561 and the following additional 
 requirements and conditions: 

    (1) there is in effect in the host state a law, rule, or 
 ruling that permits Minnesota home state banks to establish de 
 novo branches in the host state under conditions substantially 
 similar to those imposed by the laws of Minnesota as determined 
 by the commissioner; and 

    (2) there is in effect a cooperative agreement between the 
 home and host state banking regulators to facilitate their 
 respective regulation and supervision of the bank including the 
 coordination of examinations. 

    For purposes of this paragraph, "host state" means a state 
 other than the home state, as defined in section 48.92. 

    HIST: 1971 c 855 s 2; 1974 c 221 s 1; 1977 c 378 s 2; 1980 c 
 444 s 1; 1981 c 220 s 7; 1987 c 161 s 1; 1993 c 257 s 9; 1995 c 
 202 art 2 s 5; art 4 s 5; 1996 c 414 art 3 s 4 

*   NOTE:  The amendment to this section by Laws 1995, chapter 
*202, article 4, section 5, expires May 31, 1997.  Laws 1995, 
*chapter 202, article 4, section 24, as amended by Laws 1996, 
*chapter 305, article 1, section 129.