Minn. Stat. § 49.013

Current through Register Vol. 49, No. 8, August 19, 2024
Section 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.

Minn. Stat. § 49.013

(7682) RL s 2998; 1945 c 128 s 1 subd 7