Minn. Stat. § 46.046
This is the official text of Minn. Stat. § 46.046, part of Minnesota’s Stat — part of the compiled statutory law of Minnesota, published by the state as "Stat." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 46.046 DEFINITIONS.
Official statutory text
§ Subdivision 1. Words, terms, and phrases. Unless the language or context clearly indicates that a different meaning is intended, the word defined in subdivision 2, for the purposes of sections 46.041 to 46.044 , shall be given the meaning subjoined to it; and the word defined in subdivision 3, for the purposes of chapters 46 to 83, shall be given the meaning subjoined to it.
§ Subd. 2. Bank. The word "bank" means any savings bank or bank of discount or deposit or trust company organized under the laws of this state.
§ Subd. 2a. Banking institution. "Banking institution" means a bank, trust company, bank and trust company, savings bank, or industrial loan and thrift operating under section 53.04, subdivision 5 , that is organized under the laws of this state, or a holding company which owns or otherwise controls the banking institution.
§ Subd. 3. Department. "Department" means the Department of Commerce of the state of Minnesota.
§ Subd. 4. Commissioner. "Commissioner" means the commissioner of commerce.
§ Subd. 5. Special purpose bank. "Special purpose bank" means a bank as defined in subdivision 2 that: (1) engages only in credit card operations as authorized in section 47.59 ; (2) does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; (3) does not accept savings or time deposits of less than $100,000; (4) maintains only one office that accepts deposits; and (5) does not engage in the business of making commercial loans.
§ Subd. 2. Bank. The word "bank" means any savings bank or bank of discount or deposit or trust company organized under the laws of this state.
§ Subd. 2a. Banking institution. "Banking institution" means a bank, trust company, bank and trust company, savings bank, or industrial loan and thrift operating under section 53.04, subdivision 5 , that is organized under the laws of this state, or a holding company which owns or otherwise controls the banking institution.
§ Subd. 3. Department. "Department" means the Department of Commerce of the state of Minnesota.
§ Subd. 4. Commissioner. "Commissioner" means the commissioner of commerce.
§ Subd. 5. Special purpose bank. "Special purpose bank" means a bank as defined in subdivision 2 that: (1) engages only in credit card operations as authorized in section 47.59 ; (2) does not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others; (3) does not accept savings or time deposits of less than $100,000; (4) maintains only one office that accepts deposits; and (5) does not engage in the business of making commercial loans.
Status: in_force · Read it on the official government site
Need a lawyer in Minnesota?
Find a Minnesota lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.