MN HF2325

Allows financial institution officers to close offices during emergencies without commissioner approval, but limits closures to 48 consecutive hours in a Monday through Friday period without prior commissioner approval.

Repeals Minnesota Statutes section 48.10, which required bank boards of directors to annually examine books either in person or through an examining committee or auditor.

Repeals Minnesota Rules parts 2675.2610, 2675.2620, and 2675.2630 (subparts 1-5), which specified requirements for annual examination reports, qualifications of examining authorities, and opinion audits for financial institutions.

Eliminates detailed examination requirements including verification of assets, review of loan and investment policies, assessment of internal controls, and documentation standards previously mandated for banks.