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H.F. No. 997/S.F. No. 985 - Burns Township Branch Bank
Author: Senator Carrie L. Ruud
Prepared by: Christopher B. Stang, Senate Counsel (651/296-0539)
Date: March 17, 2005

Section 1 permits a bank that has its main office in the city of Pine River to open a branch bank in Burns Township (Anoka County). Legislative action is required for a bank to open a branch in a township. Requires the establishment of this branch to go through the usual Department of Commerce procedures for approval of a new branch, except where those procedures are inconsistent with this bill. Requires approval of the Burns Town Board in order for this bill to become effective.

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