Minnesota § 49.013 - INSOLVENT FINANCIAL INSTITUTIONS; ASSIGNMENT PROHIBITED
Full text of Minnesota Minnesota Statutes § 49.013 — INSOLVENT FINANCIAL INSTITUTIONS; ASSIGNMENT PROHIBITED, with citation guidance and answers to common questions.
§ 49.013. INSOLVENT FINANCIAL INSTITUTIONS; ASSIGNMENT PROHIBITED
No financial institution shall make an assignment by reason of existing or probable insolvency. Its governing board or managing officers, if satisfied that it is, or is about to become, insolvent, shall immediately report that fact to the commissioner.
History:
(7682) RL s 2998; 1945 c 128 s 1 subd 7
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 49.013
What does Minnesota Statutes § 49.013 cover?
Section 49.013 ("INSOLVENT FINANCIAL INSTITUTIONS; ASSIGNMENT PROHIBITED") 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 § 49.013?
A common citation format is "Minnesota Statutes § 49.013" (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 § 49.013 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.