Can you summarize MNST 345.46?
This legal document pertains to the period of limitation on the owner’s right to receive or recover property. It states that the expiration of a period of limitation does not prevent the property from being presumed abandoned or affect the duty to file a report or transfer property to the administrator as required by sections 345.31 to 345.60. The document also specifies that an action or proceeding to enforce sections 345.
Can you summarize MNST 349.12?
This legal document, the Minnesota Statutes governing lawful gambling and gambling devices, provides definitions for various terms used in sections 349.11 to 349.23. It applies to persons and entities involved in lawful gambling activities in Minnesota. The document defines terms such as ‘active member,’ ‘affiliate,’ ‘allowable expense,’ ‘bingo,’ ‘bingo occasion,’ ‘board,’ ‘capital assets,’ ‘charitable contribution,’ ‘checker,’ ‘continuation raffle,’ ‘deal,’ ‘director,’ ‘distributor,’ ‘distributor salesperson,’ ’electronic bingo device,’ ’electronic pull-tab device,’ ’electronic pull-tab game,’ ’electronic pull-tab game system,’ ’electronic raffle selection system,’ ‘face value,’ ‘gambling equipment,’ ‘gambling manager,’ ‘gross profit,’ ‘gross receipts,’ ‘organization,’ ‘paddle ticket,’ ‘paddle ticket card,’ ‘paddle ticket card number,’ ‘paddlewheel,’ ‘person,’ ‘profit carryover,’ ‘promotional ticket,’ ‘pull-tab,’ ‘pull-tab dispensing device,’ ‘raffle,’ ‘raffle board,’ ‘raffle sales device,’ ‘share the pot raffle,’ ’tipboard,’ ’tipboard ticket,’ ‘veterans post home,’ ‘wholly leased building,’ and ‘wholly owned building.
Can you summarize MNST 349.151?
This legal document establishes the Gambling Control Board with the powers and duties to regulate lawful gambling in the public interest. The board consists of seven members appointed by the governor, commissioner of public safety, and attorney general. The board is responsible for issuing licenses, collecting fees, inspecting premises and records, making rules, and reporting annually to the governor and legislature. It has the authority to impose civil penalties for violations and to suspend or revoke licenses and premises permits.
Can you summarize MNST 349.166?
This legal document governs lawful gambling and gambling devices in Minnesota. It provides exclusions and exemptions for certain activities. Exclusions include bingo conducted by organizations in connection with county fairs, state fairs, or civic celebrations for a limited duration or on four or fewer days in a calendar year. Bingo conducted within nursing homes, senior citizen housing projects, or by senior citizen organizations is also excluded, with specific limitations on prizes and participants.
Can you summarize MNST 47.096?
This legal document governs time deposits, including savings certificates and certificates of deposit, that are automatically renewable by their own terms if not redeemed at a specified redemption date. It requires financial corporations receiving such deposits to provide written notice to the owner or holder of the deposit at least 30 days prior to the redemption date. The notice should be sent to the last known address of the owner or holder and should state the date of automatic renewal, as well as any penalty diminution of interest or other consequences resulting from failure to redeem prior to automatic renewal.
Can you summarize MNST 47.20?
This legal document governs the lending authority of financial institutions in Minnesota. It applies to banks, savings banks, savings associations, trust companies, and mortgagees or lenders approved or certified by various government agencies. The document authorizes these institutions to make loans and advances of credit, purchase obligations representing loans and advances of credit, and obtain insurance or guarantees for such loans. It also allows them to make loans secured by mortgages on real property or shares of stock in cooperative apartment corporations.
Can you summarize MNST 47.58?
This legal document, found in the Minnesota Statutes under the section on Financial Corporations, governs reverse mortgage loans. It provides definitions for terms related to reverse mortgage loans, such as ‘reverse mortgage loan,’ ’lender,’ ‘borrower,’ and ‘outstanding loan balance.’ The document outlines the authorization for lenders to make investments in reverse mortgage loans and sets limitations on the total amount of investments. It also specifies the payment, repayment, and amount of reverse mortgage loans, including the events that trigger repayment.
Can you summarize MNST 47.69?
This legal document governs the privacy of customers using electronic financial terminals. It applies to persons establishing and maintaining electronic financial terminals, as well as financial institutions using such terminals. The document requires the treatment and use of information received or processed through these terminals to be in accordance with applicable laws on dissemination and disclosure. It also mandates the restriction of information disclosure to what is necessary for completing transactions and safeguarding customer information.
Can you summarize MNST 47.77?
This legal document governs the transfer and closure of deposit accounts by financial institutions. According to the document, a financial institution is prohibited from initiating a transfer of a deposit account to another account with different identification information without sending at least 30 days’ prior notice to at least one of the deposit account holders. If the new account has different terms, the financial institution must obtain written consent from at least one of the deposit account holders.
Can you summarize MNST 48.08?
No director, officer or employee shall, directly or indirectly, in any manner, use the funds of the bank, or any part thereof, except in its regular business transactions, and every loan made to any of its directors, officers, employees, or agents shall be upon the same security required of others and in strict conformity to its rules and regulations. No cashier or other officer or employee of a bank shall sell to the bank, directly or indirectly, any mortgage, bond, note, stock, or other security without the written approval of the board of directors, filed in the office of the bank or embodied in a resolution adopted by the board.