Minnesota Statutes Banking (Ch. 46-59) § 47.16. Certification by commissioner

Subdivision 1. Filing. The certificate of a corporation must be filed for record with the commissioner of commerce. If the commissioner of commerce finds that it conforms to law and that the required fee has been paid, the commissioner of commerce must record it and certify that fact on it.

Subd. 2. Certificate of authority. If the commissioner of commerce is satisfied that the corporation has been organized for legitimate purposes, and under such conditions as to merit and have public confidence, and that all provisions of law applicable to every branch of business in which, by the terms of its certificate, it is authorized to engage, have been complied with, the commissioner shall so certify. When the original certificate of incorporation is filed with the commissioner of commerce, the commissioner shall, within 60 days thereafter, execute and deliver to it a certificate of authority.