Minnesota § 49.30 - COMMITTEE TO COMPLETE LIQUIDATION
Full text of Minnesota Minnesota Statutes § 49.30 — COMMITTEE TO COMPLETE LIQUIDATION, with citation guidance and answers to common questions.
§ 49.30. COMMITTEE TO COMPLETE LIQUIDATION
At any time after a period of three years shall have elapsed, after the commissioner shall have taken possession of the business and property of a financial institution, a majority of the creditors in number and amount may petition the court for the appointment of a committee of three competent persons, residents of the county, named by them, the court may make such appointment, and any officer or member of the board of directors of the financial institution may be appointed as members of said committee, if residents of the county. All rights and duties of the commissioner shall then devolve upon the committee.
History:
(7683) RL s 2999; 1933 c 310 s 1; 1945 c 128 s 10
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 49.30
What does Minnesota Statutes § 49.30 cover?
Section 49.30 ("COMMITTEE TO COMPLETE LIQUIDATION") 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 § 49.30?
A common citation format is "Minnesota Statutes § 49.30" (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 § 49.30 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.