STATE BY LORD v. FIRST NAT. BANK OF ST. PAUL

No. 81-311.

313 N.W.2d 390 (1981)

STATE of Minnesota, by Jim LORD, its Treasurer, Appellant, v. The FIRST NATIONAL BANK OF SAINT PAUL, a national banking association, Respondent.

Supreme Court of Minnesota.

December 17, 1981.


Attorney(s) appearing for the Case

Warren Spannaus, Atty. Gen., and Richard S. Slowes, Sp. Asst. Atty. Gen., St. Paul, for appellant.

Briggs & Morgan, Frank Hammond, Alan H. Maclin, St. Paul, for respondent.

John S. Jackson, Minneapolis, for amicus curiae.

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


PETERSON, Justice.

The issue for decision is whether Minn. Stat. § 345.53 (1980), which authorizes the state treasurer to examine the records of any holder of unclaimed property, is preempted as to national banks by virtue of 12 U.S.C. § 484 (1976), which restricts visitorial powers over national banks. We hold that the power sought to be exercised by the treasurer is not the exercise of visitorial powers and...

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