§ 13A.01 — Definitions
Plain-Language Summary
This law defines key terms for the financial records privacy chapter. A 'financial institution' includes banks, savings banks, credit unions, trust companies, and consumer finance institutions located in Minnesota. A 'financial record' means any record a financial institution holds about a customer's relationship with the institution.
13A.01 DEFINITIONS.
§
Subdivision 1.Scope.
For the purpose of this chapter, the following terms have the meanings given them. §
Subd. 2.Financial institution.
“Financial institution” means any office of a bank, savings bank, industrial loan company, trust company, savings and loan, building and loan, credit union, or consumer finance institution, located in the state. §
Subd. 3.Financial record.
“Financial record” means an original of, a copy of, or information known to have been derived from, any record held by a financial institution pertaining to a customer’s relationship with the financial institution. §
Subd. 4.Government authority.
“Government authority” means any agency or department of the state or a local unit of government, or any officer, employee, or agent of it. §
Subd. 5.Customer.
“Customer” means any natural person or authorized representative of that person who utilized or is utilizing any service of a financial institution, or for whom a financial institution is acting or has acted as a fiduciary, in relation to an account maintained in the person’s name. §
Subd. 6.Law enforcement inquiry.
“Law enforcement inquiry” means a lawful investigation or official proceeding inquiring into a violation of, or failure to comply with, any criminal or civil statute or any rule or order issued pursuant to it.
History:
History: History:
1983 c 225 s 1