Subdivision 1. Generally. In addition to other investments authorized by law, a savings bank may invest in the capital stock, obligations, or other securities of any corporation organized under the laws of this state if all or a majority of the capital stock of the corporation is owned by the savings bank, and if substantially all of the activity of the corporation consists of:
(1) activities in which the savings bank could engage directly;
(2) activities in which a state bank or national bank, or a subsidiary of a state bank or national bank, is authorized to engage as of August 1, 1995; and
(3) activities in which any state bank or national bank becomes authorized to engage after August 1, 1995, which are authorized by the commissioner.
Subd. 2. Restriction. No savings bank may make any investment under subdivision 1 in a subsidiary that engages primarily in activities in which the savings bank could not engage directly if its aggregate outstanding investment under this section in all subsidiaries that engage in activities in which the savings bank could not engage directly exceeds 25 percent of the capital stock and surplus of the savings bank.
1979 c 321 s 2; 1995 c 171 s 47
Structure Minnesota Statutes
Section 50.001 — Application For Certificate Of Authority; Procedure.
Section 50.01 — Expediency Ascertained.
Section 50.04 — Bonds Of Trustees Or Directors.
Section 50.05 — Bonds Of Officers And Employees.
Section 50.11 — Securities Held For Safekeeping; Safe Deposit Boxes; Limitation Of Liability.
Section 50.14 — Authorized Securities.
Section 50.145 — Authorized Investments; General Authority.
Section 50.146 — Authorized Investments; Corporations.
Section 50.1465 — Authorized Investments; Service Corporations.
Section 50.147 — Authorized Investments; Student Loans.
Section 50.148 — Authorized Investments; Manufactured Home Loans.
Section 50.1485 — Lending Authority.
Section 50.155 — Purchase Of Certain Mortgage Loans.
Section 50.17 — Deposit Accounts.
Section 50.171 — Treasury Tax And Loan Accounts Of The United States.
Section 50.175 — Negotiable Order Of Withdrawal Account.
Section 50.18 — Method Of Determining Surplus.
Section 50.19 — Reports To The Commissioner.
Section 50.20 — Report To Show Liabilities.
Section 50.212 — Savings Bank Regulation.
Section 50.24 — Existing Banks Conformed; Exceptions.
Section 50.245 — Branches; Acquisitions.
Section 50.25 — Banks Organized Under The Laws Of Minnesota; Capital Stock; Amendment Of Articles.