No bank or trust company organized under the laws of this state shall settle any check drawn on it otherwise than at par. The provisions of this section shall not apply with respect to the settlement of a check sent to such bank or trust company as a special collection item. This section is in effect on and after November 1, 1968. History: 1967 c 156 s 1

This legal document governs the requirement for state banks and trust companies to maintain reserves in the form of liquid assets. The reserves must be at a level reasonably necessary to meet anticipated withdrawals, commitments, and loan demand. The acceptable forms of reserves include cash, cash items in process of collection, short term obligations of or demand balances with other insured financial institutions in the United States and its territories, or short term, direct obligations of or guaranteed by the United States government.

This legal document removes the disability of minority for war veterans and their minor spouses in connection with transactions related to guaranty or insurance under the Servicemen’s Readjustment Act of 1944, the National Housing Act, or the Defense Housing and Community Facilities and Services Act of 1951. The removal of this disability applies to all purposes in connection with such transactions, including incurring of indebtedness or obligations, acquiring, encumbering, selling, releasing, or conveying property or any interest therein, and litigating or settling controversies arising therefrom.

No bank or trust company organized under the laws of this state shall accept deposits in a sum exceeding 30 times the amount of its capital stock and its actual surplus. History: (7699-12) 1927 c 325 s 1; 1943 c 342 s 2; 1945 c 73 s 1; 1947 c 11 s 1; 1949 c 24 s 1; 1959 c 88 s 11

If any such bank or trust company shall violate the provisions of Minnesota Statutes 1945, section 48.27 , as amended, the commissioner of commerce may take possession thereof and liquidate such corporation in accordance with law, unless said bank or trust company shall within 90 days after notice from the commissioner of commerce reduce its deposits to the amount allowed by law or increase its capital stock accordingly. History: (7699-13) 1927 c 325 s 2; 1943 c 342 s 1; 1945 c 73 s 2; 1947 c 11 s 2; 1949 c 24 s 2; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92

Any deposit made in the name of a minor, shall be held for the exclusive right and benefit of the minor, free from the control or lien of all other persons, except creditors, and, together with the dividends or interest thereon, shall be paid to the minor, and the minor’s receipt, check, or acquittance in any form shall be a sufficient release and discharge of the depository for the deposit, or any part thereof, until a conservator or guardian appointed for the minor shall have delivered a certificate of appointment to the depository.

Any person, firm, or corporation appointed by a court of competent jurisdiction as representative of the estate of a deceased person, or as guardian or conservator, or any trustee of a firefighters’ relief association, or any referee, receiver, or trustee appointed by a court of record in this state, may deposit funds for safekeeping and disbursing, unless otherwise directed by the court, in any bank, credit union, if the beneficial owner is a member, or trust company, however organized, the deposits of which are insured, in whole or in part, by an agency of the federal government insuring deposits, to the extent that the funds so deposited are fully insured.

This legal document, part of the Minnesota Statutes Criminal Code, defines terms related to crimes against vulnerable adults. It applies to individuals or facilities responsible for the care of vulnerable adults, including family members and contracted caregivers. The document provides definitions for terms such as ‘caregiver,’ ‘facility,’ ‘immediately,’ ’legal authority,’ ‘maltreatment,’ ‘operator,’ ‘person,’ ‘report,’ ’therapeutic conduct,’ and ‘vulnerable adult.’ It also outlines the criteria for determining who qualifies as a vulnerable adult, including residents of facilities, recipients of services from licensed providers, and individuals with physical or mental impairments.

This legal document, found in the Minnesota Statutes under the CRIMES; EXPUNGEMENT; VICTIMS » CRIMINAL CODE section, addresses the crime of financial exploitation of vulnerable adults. It defines the acts that constitute financial exploitation, including the intentional failure to provide necessary care or using the vulnerable adult’s property for the benefit of someone else. It also covers the acquisition of the vulnerable adult’s property through undue influence, forcing the vulnerable adult to perform services for another’s advantage, and establishing a fiduciary relationship through improper means.

This legal document, found in the Minnesota Statutes under the Criminal Code, addresses the offense of interference with privacy. It outlines various actions that constitute surreptitious intrusion or the use of observation devices to intrude upon or interfere with the privacy of individuals. The document specifies that entering another’s property and engaging in such conduct with the intent to intrude upon or interfere with the privacy of a member of the household or an occupant of a sleeping room in a hotel or tanning booth is a gross misdemeanor.