Minnesota § 48.23 - BANK NOT TO LEND ON ITS OWN STOCK OR PURCHASE SAME
Full text of Minnesota Minnesota Statutes § 48.23 — BANK NOT TO LEND ON ITS OWN STOCK OR PURCHASE SAME, with citation guidance and answers to common questions.
§ 48.23. BANK NOT TO LEND ON ITS OWN STOCK OR PURCHASE SAME
Any such bank shall make no loan or discount on the security of its own capital stock, nor be the purchaser or holder thereof, unless necessary to prevent loss upon a debt previously contracted in good faith, and all stock so acquired shall be disposed of, at public or private sale, within six months after it is so acquired.
History:
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 48.23
What does Minnesota Statutes § 48.23 cover?
Section 48.23 ("BANK NOT TO LEND ON ITS OWN STOCK OR PURCHASE SAME") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 48.23?
A common citation format is "Minnesota Statutes § 48.23" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 48.23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.