Minnesota § 49.01 - DEFINITIONS
Full text of Minnesota Minnesota Statutes § 49.01 — DEFINITIONS, with citation guidance and answers to common questions.
§ 49.01. DEFINITIONS
Subdivision 1.Scope.
For the purposes of sections 49.01 to 49.32, the following terms shall be given the meanings subjoined to them.
Subd. 2.Financial institution.
"Financial institution" means and includes a bank, a savings bank, a trust company, a savings association, a credit union, and an industrial loan and thrift company.
Subd. 3.Investment company.
"Investment company" means any person, copartnership, association, or corporation referred to in sections 54.26 to 54.297.
Subd. 4.Commissioner.
"Commissioner" means the commissioner of commerce.
Subd. 5.District court.
"The district court," unless otherwise specifically stated, means the district court of the county in which the financial institution being liquidated had its principal place of business prior to the time the commissioner took possession of its business and assets.
Subd. 6.Liquidation Division.
"Liquidation Division" means the Liquidation Division of the Department of Commerce, consisting of the commissioner of commerce, a deputy, any examiner in charge of liquidation, deputy examiners, attorneys, and other employees engaged in carrying out the provisions of sections 49.01 to 49.32, and performing functions incidental thereto.
Subd. 7.State bank.
"State bank," for the purposes of sections 49.02 to 49.41, shall mean any bank, savings bank, trust company, or bank and trust company which is now or may hereafter be organized under the laws of this state.
History:
1945 c 128 s 1 subds 1-6; 1975 c 166 s 7; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444; 1987 c 384 art 2 s 12; 1995 c 171 s 31; 1995 c 202 art 1 s 13,25
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 49.01
What does Minnesota Statutes § 49.01 cover?
Section 49.01 ("DEFINITIONS") 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 § 49.01?
A common citation format is "Minnesota Statutes § 49.01" (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 § 49.01 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.