(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) In addition to other facilities, a bank may operate part-time locations at nursing homes and senior citizen housing facilities located within the municipality in which the main banking house or a detached facility is located, or within the seven-county metropolitan area if the bank's main banking facility or a detached facility is located within the seven-county metropolitan area, if they are operated in a manner consistent with safe, sound banking practices.
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 305 art 1 s 129; 1996 c 414 art 3 s 4; 1999 c 151 s 13; 2000 c 427 s 1
Structure Minnesota Statutes
Chapter 47 — Financial Corporations
Section 47.015 — Closing On Certain Days.
Section 47.0151 — Emergency Suspension Of Business, Definitions.
Section 47.0152 — Emergency Closings; Power Of Commissioner.
Section 47.0153 — Closings; Powers Of Officers.
Section 47.0154 — Notice To Commissioner.
Section 47.0155 — Effect Of Closing.
Section 47.0156 — Closing Effecting A Permanent Cessation Of Business.
Section 47.016 — Disposition Of Credit Insurance Income.
Section 47.02 — "bank" And "savings Bank."
Section 47.03 — Use Of Certain Words Permitted.
Section 47.07 — Companies Subject To Provisions.
Section 47.08 — Articles Of Incorporation Filed With Commissioner.
Section 47.09 — Advertisements.
Section 47.096 — Time Deposits; Notice Of Automatic Renewal.
Section 47.10 — Real Estate; Acquisition, Holding.
Section 47.101 — Place Of Business; Relocation, Disposal.
Section 47.11 — Selection Of Name.
Section 47.12 — Financial Corporations.
Section 47.13 — Application Of Business Corporation Act.
Section 47.14 — Certificate; How Accompanied.
Section 47.16 — Certification By Commissioner.
Section 47.171 — Certificates Of Incorporation, Amendment; Exceptions.
Section 47.172 — Restated Certificates Of Incorporation.
Section 47.18 — "corporation"; "agency."
Section 47.19 — Corporation May Be Member Or Stockholder Of Federal Agency.
Section 47.20 — Lending Authority Of Financial Institutions.
Section 47.201 — Graduated Payment Mortgages And Cooperative Apartment Loans.
Section 47.203 — Federal Preemption Override.
Section 47.204 — Temporary Removal Of Mortgage Usury Limits.
Section 47.205 — Assignment Of Mortgage; Duties; Penalties.
Section 47.206 — Interest Rate Or Discount Point Agreements.
Section 47.207 — Cancellation Of Private Mortgage Insurance.
Section 47.208 — Delivery Of Satisfaction Of Mortgage.
Section 47.209 — Manufactured Home Financing; Property Tax Collection Requirement.
Section 47.21 — Inapplicable Laws; Authorized Investments.
Section 47.23 — Use Of Certain Words Permitted.
Section 47.24 — Failure To Report; Forfeitures.
Section 47.25 — Notice Of Meetings.
Section 47.28 — Savings Banks May Convert Into Savings Associations.
Section 47.30 — Savings Association May Convert Into Savings Bank.
Section 47.325 — Appeal And Judicial Review.
Section 47.41 — Negotiable Instruments, Facsimile Signatures, Disbursement Of Public Funds.
Section 47.42 — Facsimile Signatures, Officer Not Liable.
Section 47.51 — Detached Banking Facilities; Definitions.
Section 47.52 — Authorization.
Section 47.521 — Closed Bank Location; Authorization.
Section 47.53 — Functions Of A Facility.
Section 47.54 — Notices And Approval Procedures.
Section 47.55 — Existing Banking Facilities Or Branches Of Savings Associations.
Section 47.56 — Transfer Of Location.
Section 47.561 — Identification Of Detached Facility.
Section 47.57 — Violation; Penalties.
Section 47.58 — Reverse Mortgage Loans.
Section 47.59 — Financial Institution Credit Extension Maximum Rates.
Section 47.60 — Consumer Small Loans.
Section 47.601 — Consumer Short-term Loans.
Section 47.602 — Motor Vehicle Title Loans.
Section 47.605 — Loan Solicitation; Unrequested Checks Regulated.
Section 47.61 — Electronic Funds Transfer Facilities; Definitions.
Section 47.62 — Authorization.
Section 47.63 — Functions Of An Electronic Financial Terminal.
Section 47.64 — Operation Of An Electronic Financial Terminal.
Section 47.65 — Transmission Facility.
Section 47.68 — Electronic Financial Terminal Security.
Section 47.69 — Consumer Privacy.
Section 47.72 — Cease And Desist Order; Injunction; Penalties.
Section 47.74 — Federal Institutions; Application.
Section 47.75 — Limited Trusteeship.
Section 47.76 — Required Savings Account.
Section 47.77 — Transfer Of Accounts Prohibited; Notice On Closing.