Minn. Stat. § 47.0152

Current through Register Vol. 49, No. 8, August 19, 2024
Section 47.0152 - EMERGENCY CLOSINGS; POWER OF COMMISSIONER

Whenever the commissioner is of the opinion that an emergency exists, or is impending, in the state or in a part of it, the commissioner may, by proclamation, authorize financial institutions located in the affected area to close any or all of their offices. In addition, if the commissioner is of the opinion that an emergency exists, or is impending, which affects, or may affect, a particular financial institution or a particular office of it, but not financial institutions located in the area generally, the commissioner may authorize the particular financial institution or office affected, to close or to temporarily relocate. The office closed shall remain closed until the commissioner proclaims that the emergency has ended, or until an earlier time when the officers of the financial institution determine that an office, closed because of the emergency, should reopen, and, in either event, for the further time reasonably necessary to reopen. The provisions of section 47.101 shall be waived for a temporary location established due to an emergency.

Minn. Stat. § 47.0152

1971 c 318 s 2; 1Sp1985 c 13 s 180; 1986 c 444