Subdivision 1. Assistant commissioner, examiners and other employees. The commissioner of commerce may appoint an assistant commissioner and such examiners, assistant examiners, stenographers, and such other employees as may be necessary to carry out the duties and responsibilities entrusted, subject to such rules as may be established by civil service with regard to qualifications and general fitness. During the absence or disability of the commissioner of commerce said assistant commissioner shall have charge of the office and administer its affairs. Such examiners shall confine their work to those institutions which are subject to the supervision of the commissioner of commerce and may be transferred from one supervisory district to another at the option of said commissioner when it shall appear that the interest of the Department of Commerce shall be better served by so doing.
Subd. 2. Examiner in charge of liquidation. The commissioner of commerce may appoint an examiner in charge of liquidation and such special deputy examiners and other employees as are needed in the liquidation of banks. The certificates of appointment of the examiner in charge of liquidation, and of such special deputy examiners shall be filed in the office of the commissioner of commerce and a certified copy thereof shall be filed in the Office of the Secretary of State and in the office of the court administrator of the district court of the county in which the principal office of the bank concerned was located. The qualifications of such examiner in charge of liquidation and special deputy examiners shall be the same as prescribed in subdivision 1 for examiners. The commissioner of commerce may from time to time authorize any such special deputy examiner to perform such duties connected with such liquidation and distribution as the commissioner may deem proper. The commissioner of commerce shall require from the examiner in charge of liquidation and each special deputy examiner such bond for the faithful discharge of duties as the commissioner may deem proper. The commissioner of commerce may procure such expert assistance as may be necessary in the liquidation and distribution of the assets of such bank and may retain such of its officers or employees as the commissioner may deem necessary.
Subd. 3. Examiners not to examine institutions in which they have a financial interest. No examiner shall have the right to examine any bank, savings bank or other financial corporation in which the examiner may have an interest, either directly or indirectly.
(5327) 1909 c 201 s 8; 1919 c 121; 1921 c 42; 1923 c 371 s 1; 1943 c 442 s 1; 1957 c 601 s 3; 1959 c 88 s 2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1985 c 248 s 70; 1986 c 444; 1Sp1986 c 3 art 1 s 82; 1991 c 326 s 3
Structure Minnesota Statutes
Chapter 46 — General Banking Powers
Section 46.04 — Regulatory Authority Of Commissioner.
Section 46.041 — Bank Applications.
Section 46.042 — Notice And Hearing, When Not Given.
Section 46.044 — Bank Charters.
Section 46.045 — Mandatory Insurance Of Accounts.
Section 46.048 — Notice Of Proposed Acquisition.
Section 46.05 — Supervision Over Financial Institutions.
Section 46.06 — Refusal To Obey Directions Of Commissioner.
Section 46.10 — Penalty For Violation.
Section 46.11 — Examiners' Districts.
Section 46.12 — Reports Of Examiners.
Section 46.131 — Assessments And Fees For Financial Institutions.
Section 46.14 — Examiners' Powers Enlarged.
Section 46.17 — Salary Of Examiner In Charge Of Liquidation.
Section 46.21 — Destruction Of Certain Records.
Section 46.23 — Unsafe Practices; Definitions.
Section 46.24 — Cease And Desist Proceedings; Injunctive Relief.
Section 46.26 — Violations By Directors, Trustees, Or Officers.
Section 46.29 — Board Of Directors Or Trustees, Lack Of Quorum, Temporary Directors Or Trustees.
Section 46.30 — Hearings, Decision; Review, Modification, Termination Or Stay Of Orders.
Section 46.31 — Enforcement Of Notices Or Orders.
Section 46.32 — Violation Of Notice Or Final Order; Criminal Penalty.
Section 46.33 — Manner Of Service; Copies To Federal Authorities; Cease And Desist Orders.
Section 46.34 — Certain Securities Deposited With The Commissioner Of Management And Budget.