Minnesota Statutes 49.01 – Definitions
Subdivision 1.Scope.
For the purposes of sections 49.01 to 49.32, the following terms shall be given the meanings subjoined to them.
Subd. 2.Financial institution.
Terms Used In Minnesota Statutes 49.01
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
Terms Used In Minnesota Statutes 49.01
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
“Financial institution” means and includes a bank, a savings bank, a trust company, a savings association, a credit union, and an industrial loan and thrift company.
Subd. 3.Investment company.
“Investment company” means any person, copartnership, association, or corporation referred to in sections 54.26 to 54.297.
Subd. 4.Commissioner.
“Commissioner” means the commissioner of commerce.
Subd. 5.District court.
“The district court,” unless otherwise specifically stated, means the district court of the county in which the financial institution being liquidated had its principal place of business prior to the time the commissioner took possession of its business and assets.
Subd. 6.Liquidation Division.
“Liquidation Division” means the Liquidation Division of the Department of Commerce, consisting of the commissioner of commerce, a deputy, any examiner in charge of liquidation, deputy examiners, attorneys, and other employees engaged in carrying out the provisions of sections 49.01 to 49.32, and performing functions incidental thereto.