Minn. Stat. § 48.23
This is the official text of Minn. Stat. § 48.23, 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.
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§ 48.23 BANK NOT TO LEND ON ITS OWN STOCK OR PURCHASE SAME.
Official statutory text
Any such bank shall make no loan or discount on the security of its own capital stock, nor be the purchaser or holder thereof, unless necessary to prevent loss upon a debt previously contracted in good faith, and all stock so acquired shall be disposed of, at public or private sale, within six months after it is so acquired.
Status: in_force · Read it on the official government site
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