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Minnesota Statutes Banking (Ch. 46-59) § 58.21. Applicability; exclusions

Current as of January 01, 2025 | Updated by Findlaw Staff

Subdivision 1. Applicability.Sections 58.20to58.23apply to covered institutions. For entities within a holding company or an affiliated group of companies,sections 58.20to58.23apply at the covered institution level.

Subd. 2. Exclusions. (a) Sections 58.20to58.23do not apply to (1) persons exempt from licensing undersections 58.04and58.05, and (2) an institution of the Farm Credit System established and authorized in accordance with the Farm Credit Act of 1971, as amended,United States Code, title 12, section 2001 et seq.

(b) Section 58.22does not apply to (1) servicers that solely own or conduct reverse mortgage servicing, or (2) the reverse mortgage portfolio administered by a covered institution.

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Cite this article: FindLaw.com - Minnesota Statutes Banking (Ch. 46-59) § 58.21. Applicability; exclusions - last updated January 01, 2025 | https://codes.findlaw.com/mn/banking-ch-46-59/mn-st-sect-58-21/

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