Any note, endorsement, guaranty, pledge, hypothecation, lien or other obligation given contrary to the provisions of sections 48.16 to 48.18 shall be null and void.
Minn. Stat. § 48.20
UNAUTHORIZED PLEDGES, NOTES, LIENS VOID.
Known as the Interstate Banking Act
The act spans §§ 48–48 (81 sections).
Applied in 1 court decision — leading case In Re Minnesota Kicks, Inc. (1985)
Most recently applied in In Re Minnesota Kicks, Inc. (March 1985)
(7699-18) 1927 c 257 s 5
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.