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  5. 304 N.W.2d 894 (1981)
 

APPLICATION OF LECY

Nos. 50451, 51546.

304 N.W.2d 894 (1981)

In the Matter of the Application of Gayle LECY et al for Certificate Authorizing the Renville County State Bank of Renville to Transact Business in that name at the Intersection of S.E. 5th St. and U.S. Highway 212, in the City of Renville, County of Renville, State of Minnesota. O'CONNOR BROTHERS STATE BANK OF RENVILLE et al, petitioners-objectors, Appellants, v. DEPARTMENT OF COMMERCE of the State of Minnesota, Respondent, v. Gayle LECY et al, applicants-intervenors, Respondents.

Supreme Court of Minnesota.

April 24, 1981.

Attorney(s) appearing for the Case

Peterson, Popovich, Knutson & Flynn and Robert Hughes, St. Paul, for appellants.

Warren Spannaus, Atty. Gen., Thomas Muck, Deputy Atty. Gen., Jacqueline Taylor, Sp. Asst., St. Paul, for respondent Dept. of Commerce.

Larkin, Hoffman, Daly & Lindgren and Gerald Friedell and Christopher Dietzen, Minneapolis, for respondents Gayle Lecy, et al.

Heard, considered, and decided by the court en banc.

TODD, Justice.

Gayle Lecy and others petitioned the Minnesota Department of Commerce for a charter to operate a state bank. A hearing was held before a referee who issued proposed findings of fact. On July 28, 1976, the Commerce Department issued its order directing the Commissioner of Banks to issue a certificate of authorization based on conditions as to capital structure, securement of federal deposit insurance, and conformance with reasonable regulations and conditions...

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