Title: Detached Facility -Banking
Alternate Title:
Description: Minnesota Department of Commerce
Subject: Banking
Financial Institutions
Trust Companies
Creation Date: 9/11/2008 2:12:29 PM
Modification Date: 8/14/2024 10:21:42 AM
Agency Name: Commerce, Minnesota Department of
Agency URL: https://mn.gov/commerce/
Agency Description:
The Minnesota Department of Commerce is the chief regulator for the banking, energy, insurance, real estate, securities, telecommunications industries and also operates Minnesota's Unclaimed Property.
Agency Phone: 651-539-1500
Agency Fax: Agency URL: https://mn.gov/commerce/
Agency Address:
85 7th Place East, Suite 500
St. Paul
MN
55101
Division Name: Division of Financial Institutions
Division URL:
Division Description:
Division Phone: Division Fax: Division URL:
Audience:
Application URL:
Renewal URL:
Versa URL:
Requirements:
Review Banks
Must be a state bank, trust company, or savings bank. Evidence of statutory requirement under Minn. Stat. § 47.51-.57. Administrative hearing may be required when objection to application is received from another bank located within a three mile radius under Minn. Stat. Chapter 14
*A detached facility may be established in a community with less than 10,000 in population if all the banks having a main office in that municipality consent in writing to the new detached facility.
Location of part time banking facilities at schools or senior citizen housing locations are also provided by Minn. Stat. § 47.52
Rules: 2675
Statutes: 47
48
Forms:
For bank and trust company applications and forms see Banks, Applications or contact bank.applications.comm@state.mn.us.
Fees:
$500 application fee, plus 50 percent of the actual costs of any hearing procedure.
Period of Issuance:
Perpetual until suspended or voluntarily closed.
Length of Determination: Approvals are issued following the report of a hearing or after a 15 day publication period which follows the filing of a complete application which is unopposed.
Other Info:
Activity: Banking
Trust Companies
License Detail URL:
Banks
Financial Institutions

