Minnesota § 48.033 - STATE BANKS, LIABILITY OF SHAREHOLDERS
Full text of Minnesota Minnesota Statutes § 48.033 — STATE BANKS, LIABILITY OF SHAREHOLDERS, with citation guidance and answers to common questions.
§ 48.033. STATE BANKS, LIABILITY OF SHAREHOLDERS
Notwithstanding sections 48.03 and 49.24, any shareholder of a state bank whose deposits are not insured by the Federal Deposit Insurance Corporation, shall be personally liable for the debts of said bank to the extent of the par value of the shares held by the shareholder.
History:
1955 c 335 s 1; 2005 c 69 art 3 s 1
Official Publication of the State of Minnesota
Revisor of Statutes
Source: official Minnesota text · Last verified 2026-08-27
Frequently Asked Questions About Minnesota § 48.033
What does Minnesota Statutes § 48.033 cover?
Section 48.033 ("STATE BANKS, LIABILITY OF SHAREHOLDERS") 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 § 48.033?
A common citation format is "Minnesota Statutes § 48.033" (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 § 48.033 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.