reglab/statecodes huggingface dataset:
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.03 — Registration Denial, Nonrenewal, Revocation, And Suspension.

80G.03 REGISTRATION DENIAL, NONRENEWAL, REVOCATION, AND SUSPENSION.
Subdivision 1.
Authority.
The commissioner may, by order, suspend, revoke, or refuse to issue or renew a dealer or dealer representative registration for any one or more of the following causes:
(1) providing incorrect, false, misleading, or incomplete information to the commissioner or refusing to allow a reasonable inspection of information and documents in the possession of the dealer, dealer representative, or a third party or to allow a reasonable inspection of premises;
(2) obtaining or attempting to obtain a registration through misrepresentation or fraud;
(3) having a dealer or dealer representative registration or its equivalent, including licensure under section 325F.73, denied, suspended, or revoked by any locality within the state or other state, province, district, or territory;
(4) being permanently or temporarily enjoined by any court of competent jurisdiction or being ordered to cease and desist by a government agency from engaging in or continuing any conduct or practice involving the buying, selling, soliciting, or marketing of bullion products, investments in bullion products, or precious metal to consumers;
(5) violating the provisions of this chapter or sections 45.027, 325D.43 to 325D.48, 325F.67, 325F.68 to 325F.69, 325F.694, and 325F.73 to 325F.744, or federal or state taxation or labor law; or
(6) violating a subpoena or order of the commissioner or a court issued pursuant to this chapter or sections 45.027, 325D.43 to 325D.48, 325F.67, 325F.68 to 325F.69, 325F.694, 325F.70, and 325F.73 to 325F.744.
Subd. 2.
Dealer responsibility for actions of dealer representatives.
The commissioner may take action against a dealer for any violations of this chapter by its dealer representatives conducting Minnesota transactions on behalf of or at the direction of the dealer. The commissioner may also take action against the dealer representative.
Subd. 3.
Other authority of the commissioner.
If a registration lapses, is surrendered, withdrawn, terminated, or otherwise becomes ineffective, the commissioner may institute a proceeding under this subdivision within two years after the registration was last effective and enter a revocation order as of the last date on which the registration was in effect, and impose a civil penalty as provided for in section 45.027, subdivision 6.
Subd. 4.
Effect of revocation.
A revocation of a registration prohibits the dealer or dealer representatives from making a new application for a registration for at least two years from the effective date of the revocation.
History:
2013 c 120 s 3; 2016 c 134 s 3; 2022 c 75 s 5
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.04 — Criminal Convictions.

80G.04 CRIMINAL CONVICTIONS.
Subdivision 1.
Dealer registration precluded.
The commissioner must deny an application for registration or renewal of a dealer, or revoke such registration, if the bullion product dealer or its owners or officers have within the last ten years been convicted in any court of any financial crime or other crime involving fraud or theft.
Subd. 2.
Dealer representative registration precluded.
The commissioner must deny an application for registration or renewal of a dealer representative, or revoke such registration, if the dealer representative has within the last ten years been convicted in any court of any financial crime or other crime involving fraud or theft.
History:
2013 c 120 s 4; 2016 c 134 s 4; 2022 c 75 s 6
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.05 — Screening.

80G.05 SCREENING.
Subdivision 1.
Screening process required.
Each registered dealer must establish procedures to screen each of its owners and officers and each of its dealer representatives prior to submitting the application to the commissioner for initial registration and at each renewal. The results of such screenings shall be kept on file by the dealer and, if requested by the commissioner, provided to the commissioner as part of the initial registration and all renewal registrations.
Subd. 2.
Initial screening.
The screening process for initial registration must be done no more than 60 days before the submission of an application for registration. The process must include a national criminal history record search, a judgment search, and a county criminal history search for all counties where the owner, officer, or dealer representative has resided within the immediately preceding ten years. Each dealer shall use a reputable, reliable, and accurate vendor authorized to do business in any state to conduct the background screening process on its owners, officers, and dealer representatives.
Subd. 3.
Renewal screening.
The screening process for the renewal of a registration must include a national criminal history record search, a judgment search, and county criminal history search for all counties where the owner, officer, or dealer representative has resided since satisfactorily completing the last screening process conducted pursuant to this section. Screening for renewal of the owner, officer, and dealer representative registrations must take place no more than 60 days before the submission of an application for renewal of a registration.
History:
2013 c 120 s 5; 2016 c 134 s 5; 2022 c 75 s 7
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.06 — Surety Bond.

80G.06 SURETY BOND.
Subdivision 1.
Surety bond requirement.
(a) Every dealer shall maintain a current, valid surety bond issued by a surety company admitted to do business in Minnesota in an amount based on the Minnesota transactions during the 12-month period prior to registration, or renewal, whichever is applicable.
(b) The amount of the surety bond shall be as specified in the table below:
Transaction Amount in Preceding
12-month Period
Surety Bond Required
$25,000 to $200,000
$25,000
$200,000.01 to $500,000
$50,000
$500,000.01 to $1,000,000
$100,000
$1,000,000.01 to $2,000,000
$150,000
Over $2,000,000
$200,000
Subd. 2.Action on bond permitted.
A consumer involved in a Minnesota transaction who is injured in money or property by a dealer's or dealer representative's failure to comply with this chapter may file a claim with the surety and if the claim is not paid, is authorized to bring an action based on the bond and recover against the surety. The commissioner or attorney general may also file a claim and bring an action on the bond and recover against the surety on behalf of a consumer so injured.
History:
2013 c 120 s 6; 2016 c 134 s 6; 1Sp2021 c 4 art 3 s 19; 2022 c 75 s 8,9
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.08 — Criminal Violation.

80G.08 CRIMINAL VIOLATION.
A person who conducts business as a dealer or as a dealer representative without having first registered with the commissioner as required in section 80G.02, subdivision 1, or who carries on such business after the revocation, suspension, or expiration of a registration, or who violates section 80G.07, subdivision 1, clause (3) or (4), is guilty of a misdemeanor.
History:
2013 c 120 s 8; 2016 c 134 s 8
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.09 — Other Action; Local Authority.

80G.09 OTHER ACTION; LOCAL AUTHORITY.
Nothing in this chapter precludes an action under chapter 80A or preempts local government authority under section 325F.742.
History:
2013 c 120 s 9
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 80G — Bullion Products Dealers › Section 80G.11 — Notification To Commissioner.

80G.11 NOTIFICATION TO COMMISSIONER.
A registered dealer must notify the commissioner of any dealer representative termination within ten days of the termination if the termination is based in whole or in part on a violation of this chapter.
History:
1Sp2021 c 4 art 3 s 20; 2022 c 75 s 11
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.22 — Short Title.

81A.22 SHORT TITLE.
Sections 81A.22 to 81A.37 may be cited as the "Revised Uniform Athlete Agents Act."
History:
2018 c 192 art 1 s 1
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.24 — Service Of Process; Investigating Powers.

81A.24 SERVICE OF PROCESS; INVESTIGATING POWERS.
Subdivision 1.
Appointment of agent.
By acting as an athlete agent in this state, a nonresident individual appoints the commissioner as the individual's agent for service of process in any civil action in this state related to the individual's acting as an athlete agent in this state.
Subd. 2.
Subpoena and enforcement powers.
The commissioner may issue subpoenas for any material that is relevant to the administration of sections 81A.22 to 81A.37 and exercise other enforcement powers available to the commissioner under chapter 45.
History:
2002 c 332 s 3; 2018 c 192 art 2 s 2
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.25 — Certificate Of Registration Required.

81A.25 CERTIFICATE OF REGISTRATION REQUIRED.
Subdivision 1.
Required.
Except as otherwise provided in subdivision 2, an individual may not act as an athlete agent in this state without holding a certificate of registration under section 81A.27.
Subd. 2.
Exceptions.
Before being issued a certificate of registration under section 81A.27, an individual may act as an athlete agent in this state for all purposes, except signing an agency contract, if:
(1) a student athlete or another person acting on behalf of the athlete initiates communication with the individual; and
(2) not later than seven days after an initial act that requires the individual to register as an athlete agent, the individual submits an application for registration as an athlete agent in this state.
Subd. 3.
Nonregistration; effect on agency contract.
An agency contract resulting from conduct in violation of this section is void, and the athlete agent shall return any consideration received under the contract.
History:
2018 c 192 art 1 s 3
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.28 — Suspension, Revocation, Or Refusal To Renew Registration.

81A.28 SUSPENSION, REVOCATION, OR REFUSAL TO RENEW REGISTRATION.
(a) The commissioner may limit, suspend, revoke, or refuse to renew a registration of an individual registered under section 81A.27, subdivision 1, for conduct that would have justified refusal to issue a certificate of registration under section 81A.27, subdivision 2.
(b) The commissioner may suspend or revoke the registration of an individual registered under section 81A.26, subdivision 2, paragraph (b), or renewed under section 81A.27, subdivision 3, paragraph (b), for any reason for which the commissioner could have refused to grant or renew registration or for conduct that would justify refusal to issue a certificate of registration under section 81A.27, subdivision 2.
History:
2018 c 192 art 1 s 6
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.29 — Temporary Registration.

81A.29 TEMPORARY REGISTRATION.
The commissioner may issue a temporary certificate of registration as an athlete agent while an application for registration or renewal of registration is pending.
History:
2018 c 192 art 1 s 7
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.30 — Registration And Renewal Fees.

81A.30 REGISTRATION AND RENEWAL FEES.
An application for registration must be accompanied by a $500 fee. An application for renewal of registration must be accompanied by a $400 fee.
History:
2002 c 332 s 9; 2018 c 192 art 2 s 2
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.33 — Student Athlete's Right To Cancel.

81A.33 STUDENT ATHLETE'S RIGHT TO CANCEL.
Subdivision 1.
Requirement.
A student athlete or, if the athlete is a minor, the parent or guardian of the athlete may cancel an agency contract by giving notice in a record of cancellation to the athlete agent not later than 14 days after the contract is signed.
Subd. 2.
Nonwaivability.
A student athlete or, if the athlete is a minor, the parent or guardian of the athlete may not waive the right to cancel an agency contract.
Subd. 3.
Consideration.
If a student athlete, parent, or guardian cancels an agency contract, the athlete, parent, or guardian is not required to pay any consideration under the contract or return any consideration received from the athlete agent to influence the athlete to enter into the contract.
History:
2018 c 192 art 1 s 10
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.34 — Required Records.

81A.34 REQUIRED RECORDS.
Subdivision 1.
Retention; specification.
An athlete agent shall create and retain for five years records of the following:
(1) the name and address of each individual represented by the agent;
(2) each agency contract entered into by the agent; and
(3) the direct costs incurred by the agent in the recruitment or solicitation of each student athlete to enter into an agency contract.
Subd. 2.
Inspection.
Records described in subdivision 1 are open to inspection by the commissioner during normal business hours.
History:
2018 c 192 art 1 s 11
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.35 — Prohibited Conduct.

81A.35 PROHIBITED CONDUCT.
Subdivision 1.
Conduct intended to induce student athlete to contract.
An athlete agent, with the intent to influence a student athlete or, if the athlete is a minor, a parent or guardian of the athlete to enter into an agency contract, may not take any of the following actions or encourage any other individual to take or assist any other individual in taking any of the following actions on behalf of the agent:
(1) give materially false or misleading information or make a materially false promise or representation;
(2) furnish anything of value to the athlete before the athlete enters into the contract; or
(3) furnish anything of value to an individual other than the athlete or another registered athlete agent.
Subd. 2.
Other intentional conduct.
An athlete agent may not intentionally do any of the following or encourage any other individual to do any of the following on behalf of the agent:
(1) initiate contact, directly or indirectly, with a student athlete or, if the athlete is a minor, a parent or guardian of the athlete, to recruit or solicit the athlete, parent, or guardian to enter an agency contract unless registered under sections 81A.22 to 81A.37;
(2) fail to create or retain or to permit inspection of the records required by section 81A.34;
(3) fail to register when required by section 81A.25;
(4) provide materially false or misleading information in an application for registration or renewal of registration;
(5) predate or postdate an agency contract; or
(6) fail to notify a student athlete or, if the athlete is a minor, a parent or guardian of the athlete, before the athlete, parent, or guardian signs an agency contract for a particular sport that the signing may make the athlete ineligible to participate as a student athlete in that sport.
Subd. 3.
Misconduct of athlete agents.
An athlete agent must not violate section 325E.33.
History:
2018 c 192 art 1 s 12
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.36 — Criminal Penalties.

81A.36 CRIMINAL PENALTIES.
An athlete agent who violates section 81A.35 is guilty of a gross misdemeanor.
History:
2002 c 332 s 15; 2018 c 192 art 2 s 2
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.361 — Civil Remedies.

81A.361 CIVIL REMEDIES.
Subdivision 1.
Private right of action by educational institution.
An educational institution has a right of action against an athlete agent or a former student athlete for damages caused by a violation of sections 81A.22 to 81A.37. In an action under this section, the court may award costs and reasonable attorney's fees.
Subd. 2.
Damages.
Damages of an educational institution under subdivision 1 include losses and expenses incurred because, as a result of the conduct of an athlete agent or former student athlete, the educational institution was injured by a violation of sections 81A.22 to 81A.37 or was penalized, disqualified, or suspended from participation in athletics by a national association for the promotion and regulation of athletics, by an athletic conference, or by reasonable self-imposed disciplinary action taken to mitigate sanctions likely to be imposed by such an organization.
Subd. 3.
Accrual of action.
A right of action under this section does not accrue until the educational institution discovers, or by the exercise of reasonable diligence would have discovered, the violation by the athlete agent or former student athlete.
Subd. 4.
Several liability.
Any liability of the athlete agent or the former student athlete under this section is several and not joint.
Subd. 5.
Other rights, remedies, or defenses.
Sections 81A.22 to 81A.37 do not restrict rights, remedies, or defenses of any person under law or equity.
History:
2002 c 332 s 16; 2018 c 192 art 2 s 2
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.362 — Administrative Penalty.

81A.362 ADMINISTRATIVE PENALTY.
The commissioner may assess a civil penalty against an athlete agent not to exceed $25,000 for a violation of sections 81A.22 to 81A.37, in accordance with chapters 14 and 45.
History:
2002 c 332 s 17; 2018 c 192 art 2 s 2
2023 Minnesota Statutes › Chapters 80B - 81A — Commercial Regulations › Chapter 81A — Revised Uniform Athlete Agents Act › Section 81A.37 — Relation To Electronic Signatures In Global And National Commerce Act.

81A.37 RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT.
Sections 81A.22 to 81A.37 modify, limit, or supersede the Electronic Signatures in Global and National Commerce Act, United States Code, title 15, section 7001 et seq., but do not modify, limit, or supersede section 101(c) of that act, United States Code, title 15, section 7001(c), or authorize electronic delivery of any of the notices described in section 103(b) of that act, United States Code, title 15, section 7003(b).
History:
2018 c 192 art 1 s 13
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.64 — Reciprocity.

82.64 RECIPROCITY.
The requirements of sections 82.59, subdivision 8, and 82.61 may be waived for individuals of other jurisdictions, provided: (1) a written reciprocal licensing agreement is in effect between the commissioner and the licensing officials of that jurisdiction, (2) the individual is licensed in good standing in that jurisdiction, and (3) the licensing requirements of that jurisdiction are substantially similar to the provisions of this chapter.
History:
1973 c 410 s 6; 1975 c 38 s 3,4; 1976 c 197 s 4; 1977 c 215 s 2,3; 1979 c 144 s 3; 1983 c 284 s 14; 1983 c 328 s 9; 1984 c 552 s 11-14; 1985 c 251 s 9; 1986 c 358 s 9-11; 1986 c 444; 1Sp1986 c 1 art 7 s 5; 1987 c 336 s 23; 1989 c 347 s 18-22; 1991 c 75 s 1,2; 1991 c 233 s 48-51; 1992 c 555 art 1 s 3; 1993 c 309 s 13,14; 1994 c 632 art 4 s 36,37; 1996 c 439 art 3 s 9; 1997 c 222 s 35; 2000 c 483 s 44; 2001 c 208 s 14; 2002 c 387 s 8,9; 2004 c 203 art 2 s 47,61; 2014 c 199 s 22
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.65 — Notice To Commissioner.

82.65 NOTICE TO COMMISSIONER.
Subdivision 1.
Change of application information.
Notice in writing or in the format prescribed by the commissioner shall be given to the commissioner by a licensee of any change of information contained in the license application on file with the commissioner, including but not limited to personal name, trade name, address, or business location not later than ten days after the change.
Subd. 2.
Mandatory.
The licensee shall notify the commissioner in writing or in the format prescribed by the commissioner within ten days of the facts in subdivisions 3 to 5.
Subd. 3.
Civil judgment.
The licensee must notify the commissioner in writing of a final adverse decision or order of a court, whether or not the decision or order is appealed, regarding any proceeding in which the licensee was named as a defendant, and which alleged fraud, misrepresentation, or the conversion of funds, if the final adverse decision relates to the allegations of fraud, misrepresentation, or the conversion of funds.
Subd. 4.
Disciplinary action.
The licensee must notify the commissioner in writing of the suspension or revocation of the licensee's real estate or other occupational license issued by this state or another jurisdiction.
Subd. 5.
Criminal offense.
The licensee must notify the commissioner in writing if the licensee is charged with, adjudged guilty of, or enters a plea of guilty or nolo contendere to a charge of any felony, or of any gross misdemeanor alleging fraud, misrepresentation, conversion of funds, or a similar violation of any real estate licensing law.
History:
1973 c 410 s 4; 1976 c 197 s 2,3; 1977 c 215 s 1; 1982 c 424 s 130; 1982 c 478 s 1; 1984 c 552 s 8,9; 1985 c 251 s 8; 1986 c 444; 1989 c 347 s 10-16; 1990 c 364 s 1; 1991 c 20 s 1; 1993 c 309 s 10; 1994 c 632 art 4 s 32,33; 1995 c 68 s 4; 1995 c 202 art 1 s 25; 1996 c 439 art 1 s 10; 1997 c 222 s 34; 2002 c 387 s 7; 2004 c 203 art 2 s 31-34,61; 2010 c 384 s 68
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.69 — Advertising Requirements.

82.69 ADVERTISING REQUIREMENTS.
(a) Any advertising by a licensee must clearly and conspicuously display the real estate brokerage name.
(b) If a salesperson or broker is part of a team or group within the brokerage, the licensee may include the team or group name in the advertising only under the following conditions:
(1) the inclusion of the team or group name is authorized by the primary broker of the brokerage to which the salesperson or broker is licensed; and
(2) the real estate brokerage name must be clearly and conspicuously displayed in the advertising.
History:
2010 c 384 s 77; 2014 c 199 s 26; 2019 c 30 s 1
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.71 — Negotiations.

82.71 NEGOTIATIONS.
Subdivision 1.
Written offers.
All written offers to purchase or lease shall be promptly submitted in writing to the seller or lessor.
Subd. 2.
Nondisclosure of terms of offer.
A licensee shall not disclose the terms of an offer to another prospective buyer or the licensee representing or assisting the buyer prior to the presentation of the offer to the seller.
Subd. 3.
Closing costs.
Licensees shall disclose to a buyer or a seller at or before the time an offer is written or presented that the buyer or seller may be required to pay certain closing costs, which may effectively reduce the proceeds from the sale or increase the cash outlay at closing.
Subd. 4.
Required documents.
Licensees shall furnish to the parties to the transaction at the time the documents are signed or become available a true and accurate copy of listing agreements, earnest money receipts, purchase agreements, contracts for deed, option agreements, closing statements, truth-in-housing forms, energy audits, and any other record, instrument, or document that is material to the transaction and that is in the licensee's possession.
Subd. 5.
Closing statement.
The listing broker or his or her designee if acting as the transaction closing agent shall deliver to the seller, at the time of closing, a complete and detailed closing statement setting forth all of the receipts and disbursements handled by the broker for the seller. The listing broker if acting as the transaction closing agent shall also deliver to the buyer, at the time of closing, a complete and detailed statement setting forth the disposition of all money received in the transaction from the buyer.
History:
2004 c 203 art 2 s 57; 2014 c 199 s 29
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.72 — Records.

82.72 RECORDS.
Subdivision 1.
Delivery.
Each real estate broker, real estate salesperson, or closing agent shall furnish parties to a transaction a true and accurate copy of any document pertaining to their interests as the commissioner through appropriate rules may require.
Subd. 2.
Examination of records.
The commissioner may make examinations within or outside of this state of each broker's or closing agent's records at such reasonable time and in such scope as is necessary to enforce the provisions of this chapter.
Subd. 3.
Retention.
A licensed real estate broker shall retain for six years copies of all listings, buyer representation and facilitator services contracts, deposit receipts, purchase money contracts, canceled checks, trust account records, and such other documents as may reasonably be related to carrying on a real estate brokerage business. The retention period shall run from the date of the closing of the transaction, or from the date of the document if the transaction is not consummated. The following documents need not be retained:
(1) agency disclosure forms provided to prospective buyers or sellers, where no contractual relationship is subsequently created and no services are provided by the licensee; and
(2) facilitator services contracts or buyer representation contracts entered into with prospective buyers, where the prospective buyer abandons the contractual relationship before any services have been provided by the licensee.
Subd. 4.
Storage.
Storage of documents identified in subdivision 3 may be by electronic means.
Subd. 5.
Destruction.
After the retention period specified in subdivision 3 has elapsed and the broker no longer wishes to retain the documents, the broker must ensure that the documents are disposed of according to the confidential record destruction procedures of the Fair and Accurate Credit Transaction Act of 2003, Public Law 108-159.
History:
1973 c 410 s 7; 1989 c 347 s 23,24; 2002 c 286 s 5; 2004 c 203 art 2 s 61; 2010 c 384 s 72-74; 2014 c 199 s 30,31; 2015 c 21 art 1 s 10
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.735 — Broker Price Opinion; Requirements; Duties Of Licensee; Regulations.

82.735 BROKER PRICE OPINION; REQUIREMENTS; DUTIES OF LICENSEE; REGULATIONS.
Subdivision 1.
Requirements.
A person licensed under this chapter or chapter 82B may prepare and provide a broker price opinion and a broker may charge and collect a fee for it if the license of that licensee is active and in good standing.
Subd. 2.
Duties of licensee.
Notwithstanding any provision of the laws of this state to the contrary, a person licensed under this chapter or chapter 82B may prepare a broker price opinion for:
(1) an existing or potential seller for the purposes of listing and selling a parcel of real property;
(2) an existing or potential buyer of a parcel of real property;
(3) a third party making decisions or performing due diligence related to the potential listing, offering, sale, exchange, option, lease, or acquisition price of a parcel of real property when prepared as required by subdivision 3; or
(4) an existing or potential lienholder or other third party for any purpose other than as the primary basis to determine the value of a piece of property for the purpose of a loan origination of a residential mortgage loan secured by such piece of property, when done in conjunction with the purchase of a consumer's principal dwelling, when prepared as required by subdivision 3.
Subd. 3.
Written report; requirement.
(a) Unless the party requesting the opinion requires a specific report, a broker price opinion prepared for a party under subdivision 2, clause (3) or (4), must be in writing and contain the following:
(1) a statement of the intended purpose of the broker price opinion;
(2) a brief description of the subject property and property interest to be priced;
(3) the basis of reasoning used to reach the opinion on the price, including the applicable market data;
(4) any assumptions or limiting conditions;
(5) a disclosure of any existing or contemplated interest of the broker or salesperson issuing the opinion;
(6) the name of the broker or salesperson issuing the price opinion;
(7) the name of the real estate brokerage that the broker or salesperson is acting on behalf of;
(8) the date of the price opinion; and
(9) a disclaimer stating, "This opinion is not an appraisal of the market value of the property, and may not be used in lieu of an appraisal. If an appraisal is desired, the services of a licensed or certified appraiser must be obtained."
(b) A copy of the broker price opinion report required under this subdivision together with any supporting materials and documents used in its preparation shall be retained as required under section 82.72, subdivisions 3 and 4.
(c) A licensee may produce or transmit a broker price opinion report electronically to any person entitled to receive it.
History:
2011 c 15 s 3; 2014 c 199 s 32
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.74 — Guaranteed Sale Programs.

82.74 GUARANTEED SALE PROGRAMS.
If a broker advertises or offers a guaranteed sale program, or other program whereby the broker undertakes to purchase real property in the event he or she is unable to effectuate a sale to a third party within a specified period of time, a written disclosure that sets forth clearly and completely the general terms and conditions under which the broker agrees to purchase the property and the disposition of any profit at the time of resale by the broker must be provided to the seller prior to the execution of a listing agreement.
History:
2004 c 203 art 2 s 54,61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.77 — Table Funding.

82.77 TABLE FUNDING.
Subdivision 1.
Definitions.
(a) For purposes of this section, the terms in this subdivision have the meanings given them.
(b) "Closing agent" has the meaning given in section 82.55, subdivision 4.
(c) "Collected funds" means funds deposited, finally settled, and credited to the closing agent's escrow account.
(d) "Federally insured financial institution" means an institution in which monetary deposits are insured by the Federal Deposit Insurance Corporation or National Credit Union Administration.
(e) "Lender" means a person who makes residential mortgage loans including a person who engages in table funding. "Lender" does not include any organization described in section 501(c)(3) or 501(c)(4) of the Internal Revenue Code of 1986, as amended, if the organization is exempt from tax under section 501(a) of the Internal Revenue Code of 1986, as amended. "Lender" does not include a state or any political subdivision of a state.
(f) "Qualified loan funds" means funds in one of the following forms:
(1) lawful money of the United States;
(2) wired funds when unconditionally held by the closing agent;
(3) cashier's checks, certified checks, bank money orders, or teller's checks issued by a federally insured financial institution and unconditionally held by the closing agent; and
(4) United States treasury checks, Federal Reserve Bank checks, federal home loan bank checks, and state of Minnesota warrants.
(g) "Table funding" means a closing or settlement at which a mortgage loan is funded by a lender by a contemporaneous advance of mortgage loan funds and an assignment of the mortgage loan to the lender advancing the funds.
Subd. 2.
Requirements.
(a) A closing agent shall not make disbursements out of an escrow, security deposit, settlement, or closing account unless the funds received from the lender are collected funds or qualified loan funds.
(b) A lender, using the closing services of a closing agent, shall at or before the time of the closing deliver loan funds to the closing agent either in the form of collected funds or qualified loan funds.
History:
1998 c 344 s 1; 2004 c 203 art 2 s 61; 2008 c 347 s 3
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.78 — Rental Services.

82.78 RENTAL SERVICES.
Subdivision 1.
License.
A rental service shall obtain a real estate broker's license before engaging in business or holding itself out as being engaged in business. No person shall act as a real estate salesperson on behalf of a rental service without first obtaining a real estate salesperson's license on behalf of the rental service.
Subd. 2.
Dissemination of unit information.
A rental service shall not provide information regarding a rental unit without the express authority of the owner of the unit.
Subd. 3.
Advertising.
A rental service shall not advertise in a manner that is misleading with regards to fees charged, services provided, the availability of rental units, or rental terms or conditions.
History:
2004 c 203 art 2 s 58
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.80 — Unclaimed Property Act Compliance.

82.80 UNCLAIMED PROPERTY ACT COMPLIANCE.
Upon the initial application for a real estate broker's license and upon each annual application for renewal, the applicant or broker shall be required to inform the commissioner of compliance with the requirements set forth in chapter 345 relating to unclaimed property.
History:
2004 c 203 art 2 s 60
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.83 — Penalty.

82.83 PENALTY.
Any person who violates any provision of this chapter, or any rule or order of the commissioner, shall be guilty of a gross misdemeanor.
History:
1973 c 410 s 16; 2004 c 203 art 2 s 61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.84 — Publication Of Information.

82.84 PUBLICATION OF INFORMATION.
The commissioner may publish by newspaper, newsletter or otherwise information to assist in the administration of this chapter, or to educate and protect the public regarding fraudulent, deceptive or dishonest practices. The commissioner may also publish materials for the benefit of license applicants.
History:
1973 c 410 s 13; 2004 c 203 art 2 s 61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.85 — Civil Actions.

82.85 CIVIL ACTIONS.
Subdivision 1.
Compensation actions; proof of license.
No person shall bring or maintain any action in the courts of this state for the collection of compensation for the performance of any of the acts for which a license is required under this chapter without alleging and proving that the person was a duly licensed real estate broker, salesperson, or closing agent at the time the alleged cause of action arose.
Subd. 2.
Compensation actions; written agreement required.
No person required by this chapter to be licensed shall be entitled to or may bring or maintain any action in the courts for any commission, fee or other compensation with respect to the purchase, sale, lease or other disposition or conveyance of real property, or with respect to the negotiation or attempt to negotiate any sale, lease or other disposition or conveyance of real property unless there is a written agreement with the person required to be licensed.
Subd. 3.
Compensation actions; residential real property; disclosure of agency.
No person required by this chapter to be licensed shall be entitled to bring any action to recover any commission, fee, or other compensation with respect to the purchase, sale, lease, or other disposition or conveyance of residential real property, or with respect to the negotiation or attempt to negotiate any sale, lease, or other disposition or conveyance of residential real property unless the person's agency relationships have been disclosed to the parties to the transaction in accordance with the requirements of this chapter.
Subd. 4.
Contract enforcement actions; limitation.
No person required to be licensed by this chapter may maintain an action in the courts of this state to enforce any provision of a purchase agreement, earnest money contract, or similar contract for the purchase, rental, or lease of real property if the provision to be enforced violates section 82.81, subdivision 5.
History:
1973 c 410 s 17; 1986 c 358 s 15; 1986 c 444; 1989 c 347 s 35; 1993 c 309 s 17-19; 2004 c 203 art 2 s 61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.87 — Computation Of Time.

82.87 COMPUTATION OF TIME.
Subdivision 1.
Days.
Where performing or doing any act, duty, matter, payment, or thing is ordered or directed, and the period of time or duration for performing or doing it is prescribed and fixed by law, rule, or order, the time, except as otherwise provided in subdivision 2, is computed so as to exclude the first and include the last day of any such prescribed or fixed period or duration of time. When the last day of the period falls on Sunday or on any day made a legal holiday, by the laws of this state or of the United States, the day is omitted from the computation.
Subd. 2.
Months.
When the lapse of a number of months before or after a certain day is required by law, rule, or order, the number of months is computed by counting the months from the day, excluding the calendar month in which the day occurs, and including the day of the month in the last month so counted having the same numerical order as the day of the month from which the computation is made, unless there be not so many days in the last month so counted, in which case the period computed shall expire with the last day of the month so counted.
History:
2004 c 203 art 2 s 37,61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.88 — Nonresident Service Of Process.

82.88 NONRESIDENT SERVICE OF PROCESS.
Subdivision 1.
Appointment of agent.
Every nonresident, before being licensed as a real estate broker, real estate salesperson, or real estate closing agent shall appoint the commissioner and a successor or successors in office as true and lawful attorney, upon whom may be served all legal process in any action or proceedings against such person, or in which such person may be a party, in relation to or involving any transaction covered by this chapter or any rule or order hereunder, which appointment shall be irrevocable. Service upon such attorney shall be as valid and binding as if due and personal service had been made upon such person. Any such appointment shall be effective upon the issuance of the license in connection with which the appointment was filed.
Subd. 2.
Violation as appointment.
The commission of any act which constitutes a violation of this chapter or rule or order hereunder by any nonresident person who has not theretofore appointed the commissioner as attorney in compliance with subdivision 1 shall be conclusively deemed an irrevocable appointment by such person of the commissioner and a successor or successors in any action or proceedings against the nonresident or in which the nonresident may be a party in relation to or involving such violation; and such violation shall be a signification of agreement that all such legal process which is so served shall be as valid and binding upon the nonresident as if due and personal service thereof had been made.
Subd. 3.
How made.
Service of process under this section shall be made in compliance with section 45.028, subdivision 2.
History:
1973 c 410 s 15; 1978 c 674 s 60; 1980 c 420 s 1; 1984 c 640 s 32; 1986 c 444; 1989 c 347 s 34; 1992 c 564 art 2 s 13; 2004 c 203 art 2 s 61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82 — Real Estate Brokers And Salespersons › Section 82.89 — Rulemaking Powers.

82.89 RULEMAKING POWERS.
The commissioner may promulgate such rules as are reasonably necessary to carry out and make effective the provisions and purposes of this chapter.
History:
1973 c 410 s 12; 1985 c 248 s 70; 2004 c 203 art 2 s 61
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82A — Membership Camping Practices › Section 82A.03 — Registration Requirement.

82A.03 REGISTRATION REQUIREMENT.
It is unlawful for any person to offer or sell a membership camping contract in this state without meeting the requirements of this chapter.
History:
1985 c 129 s 3; 2014 c 222 art 1 s 17
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82A — Membership Camping Practices › Section 82A.06 — Exemptions.

82A.06 EXEMPTIONS.
Subdivision 1.
Total transactional exemptions.
The following transactions are exempt from the provisions of this chapter:
(1) an offer, sale, or transfer by any one person of not more than one membership camping contract in any 12-month period; unless the offer, sale, or transfer is effected by or through a broker;
(2) an offer or sale by a government or governmental agency;
(3) a bona fide pledge of a membership camping contract; and
(4) any transaction which the commissioner by rule or order exempts as not being within the purposes of this chapter and the registration of which the commissioner finds is not necessary or appropriate in the public interest or for the protection of purchasers.
Subd. 2.
[Repealed, 2014 c 222 art 1 s 58]
History:
1985 c 129 s 6; 1986 c 444; 2013 c 135 art 1 s 5; 2014 c 222 art 2 s 8; 2018 c 182 art 1 s 109
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82A — Membership Camping Practices › Section 82A.10 — Inspection Of Records.

82A.10 INSPECTION OF RECORDS.
All records of a membership camping operator and broker and their agents pertaining to the advertising or sale of membership camping contracts in this state shall be maintained by the membership camping operator or broker at that person's principal place of business and shall there be subject to inspection by the commissioner during normal business hours.
History:
1985 c 129 s 10; 2014 c 222 art 1 s 19
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82A — Membership Camping Practices › Section 82A.111 — Escrow Requirement.

82A.111 ESCROW REQUIREMENT.
Subdivision 1.
Generally.
All funds received by a broker, membership camping operator, or salesperson in connection with the offer or sale of a membership camping contract must be deposited immediately upon receipt in an escrow account maintained by the broker or membership camping operator for that purpose in a bank or an industrial loan and thrift company with deposit liabilities designated by the broker or membership camping operator. The funds must remain in the escrow account, for the benefit of the purchaser, until the expiration of the purchaser's right of rescission as set forth in section 82A.11, subdivision 3. The depository bank must be a Minnesota bank, trust company, or savings association, or a foreign bank which authorizes the commissioner to examine its records of these deposits upon demand by the commissioner. The industrial loan and thrift company must be organized under chapter 53.
Subd. 2.
Membership camping dues.
A membership camping operator or the operator's salesperson shall deposit all membership dues received in an escrow account in a Minnesota bank, trust company, or savings association, a foreign bank which authorizes the commissioner to examine its records of these deposits upon demand by the commissioner, or an industrial loan and thrift company organized under chapter 53 with deposit liabilities. The operator may draw funds from the escrow as needed provided that funds are expended for purposes identified by the budget.
Subd. 3.
Commingling funds.
A broker, membership camping operator, or salesperson shall deposit only funds specified in subdivisions 1 and 2 in an escrow account and shall not commingle personal funds or other funds in an escrow account; except that a broker, membership camping operator, or salesperson may deposit and maintain a sum not to exceed $100 in an escrow account from personal funds, which sum must be specifically identified and used to pay service charges relating to the escrow account.
Subd. 4.
Trust account records.
Each broker and membership camping operator shall maintain and retain records of all escrowed funds and escrow accounts.
Subd. 5.
[Repealed, 2014 c 222 art 1 s 58]
History:
1987 c 154 s 7; 1995 c 202 art 1 s 25; 2014 c 222 art 1 s 20
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82A — Membership Camping Practices › Section 82A.13 — Prohibited Practices.

82A.13 PROHIBITED PRACTICES.
Subdivision 1.
Untrue statements filed in documents.
No person shall make or cause to be made any untrue statement of a material fact in an application or other document filed with the commissioner.
Subd. 2.
Fraud.
No person shall, in connection with the offer or sale of any membership camping contract, directly or indirectly:
(1) employ any device, scheme, or artifice to defraud;
(2) make any untrue statement of a material fact, or omit to state material facts necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading;
(3) engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person; or
(4) accept an advance payment for services rendered by an agent in connection with the resale of a membership camping contract.
Subd. 3.
[Repealed, 2014 c 222 art 1 s 58]
History:
1985 c 129 s 13; 1989 c 252 s 3; 2013 c 135 art 1 s 6; 2014 c 222 art 1 s 22
2023 Minnesota Statutes › Chapters 82 - 83 — Real Estate Sales Regulations › Chapter 82A — Membership Camping Practices › Section 82A.15 — Preservation Of Purchaser's Claims And Defenses.

82A.15 PRESERVATION OF PURCHASER'S CLAIMS AND DEFENSES.
Any assignee of a membership camping contract or obligation relating to membership camping contracts shall be subject to all claims and defenses of the purchaser against the membership camping operator arising from the sale, notwithstanding any agreement to the contrary. An assignee who takes assignment of the membership camping contract without assumption of any obligations thereunder shall have no obligation or liability to assume the obligations or responsibilities of the membership camping operator under the membership camping contract. The assignee's liability under this section shall not exceed the amount owing to the assignee at the time the claim or defense is asserted against the assignee. The rights of the purchaser under this subdivision can only be asserted as a matter of defense to or set off against a claim by the assignee.
History:
1985 c 129 s 15