2025 Session
Last amended: 1971 session
§ 47.57 — Violation; Penalties
Plain-Language Summary
Breaking the branch banking rules can lead to the same penalties as other banking law violations, plus any affected bank can sue for an injunction.
47.57 VIOLATION; PENALTIES.
A violation of sections 47.51 to 47.57 shall be subject to penalties applicable to violations of laws affecting banks. In addition, a violation of sections 47.51 to 47.57 may be enjoined by a civil action for injunction by any aggrieved bank.
History:
History: History:
1971 c 855 s 7
Practical Notes
Banks that open illegal branches face penalties and can be sued by competing banks.