47.521 CLOSED BANK LOCATION; AUTHORIZATION.
103 words·~1 min read·
/mn/chapter-47/47-521A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
47.521 CLOSED BANK LOCATION; AUTHORIZATION.
Where the commissioner has determined that an existing state bank or national banking association is about to fail or has failed and it is in the public interest to prevent the loss of banking services in the community affected, the limitations on location and number of detached facilities in section 47.52 do not apply to an application to establish a detached facility in the same locality. In the event the commissioner has determined that it is necessary and in the public interest to act immediately on the application, the commissioner may waive the requirements of section 47.54 .