2025 Session
Last amended: 1995 session
§ 303.04 — Engaging in Banking; Limitation
Plain-Language Summary
This section prohibits foreign corporations from conducting banking or trust company business in Minnesota, except as specifically allowed for foreign trust associations.
303.04 ENGAGING IN BANKING; LIMITATION.
No foreign corporation shall transact in this state the business which only a bank, trust company, or savings association may transact in this state except as provided in section 303.25.
History:
(7495-3) 1935 c 200 s 3; 1941 c 164 s 1; 1949 c 427 s 1; 1951 c 219 s 1; 1981 c 162 s 3; 1995 c 202 art 1 s 25
History: History: (7495-3) 1935 c 200 s 3; 1941 c 164 s 1; 1949 c 427 s 1; 1951 c 219 s 1; 1981 c 162 s 3; 1995 c 202 art 1 s 25
Practical Notes
Out-of-state corporations cannot engage in banking or trust company activities in Minnesota unless they qualify under the specific trust association provisions.