<a id="pl.1.3"></a><var>1.3</var>money transmitters; clarifying the definition of home solicitation sale; amending <br/>
<a id="pl.1.4"></a><var>1.4</var>Minnesota Statutes 2010, sections 53B.18; 325G.06, subdivision 2; proposing <br/>
<a id="pl.1.5"></a><var>1.5</var>coding for new law in Minnesota Statutes, chapter 53B.<br/>
<a id="pl.1.6"></a><var>1.6</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br/>
<br/>
<a id="bill.0.1.0"></a><a id="pl.1.7"></a><var>1.7</var>    Section 1. Minnesota Statutes 2010, section 53B.18, is amended to read:<br/>
<a id="pl.1.8"></a><var>1.8</var><b>53B.18 PROHIBITED PRACTICES.</b><br/>
<a id="pl.1.9"></a><var>1.9</var>No licensee shall:<br/>
<a id="pl.1.10"></a><var>1.10</var>(1) fail to comply with chapter 345 as it relates to unclaimed property requirements;<br/>
<a id="pl.1.11"></a><var>1.11</var>(2) refuse to indemnify an instrument holder for any misappropriation of money <br/>
<a id="pl.1.12"></a><var>1.12</var>caused by any of its authorized delegates in conducting activities on behalf of the licensee <br/>
<a id="pl.1.13"></a><var>1.13</var>for whom it acts as an authorized delegate; or<br/>
<a id="pl.1.14"></a><var>1.14</var>(3) fail to transmit all money received for wire transmission in accordance with the <br/>
<a id="pl.1.15"></a><var>1.15</var>purchaser's instructions within five days; or<br/>
<a id="pl.1.16"></a><var>1.16</var>(4) fail to comply with section 53B.27.<br/>
<br/>
<a id="bill.0.2.0"></a><a id="pl.1.17"></a><var>1.17</var>    Sec. 2. <b>[53B.27] MONEY TRANSMITTERS; COOPERATION REQUIRED </b><br/>
<a id="pl.1.18"></a><var>1.18</var><b>IN COMBATTING FRAUD.</b><br/>
<a id="pl.1.19"></a><var>1.19</var>    Subdivision 1. <b>Fraud prevention measures required.</b> Each money transmitter <br/>
<a id="pl.1.20"></a><var>1.20</var>shall:<br/>
<a id="pl.1.21"></a><var>1.21</var>(1) provide a clear, concise, and conspicuous consumer fraud warning on all <br/>
<a id="pl.1.22"></a><var>1.22</var>transmittal forms used by consumers;<br/>
<a id="pl.1.23"></a><var>1.23</var>(2) provide consumer fraud prevention training for agents involved with transmittals;<br/>
<a id="pl.2.1"></a><var>2.1</var>(3) monitor agent activity relating to consumer transmittals; and<br/>
<a id="pl.2.2"></a><var>2.2</var>(4) establish a toll-free number for consumers to call to report fraud or suspected <br/>
<a id="pl.2.3"></a><var>2.3</var>fraud.<br/>
<a id="pl.2.4"></a><var>2.4</var>    Subd. 2. <b>Voluntary disqualification by customer.</b> A money transmitter that <br/>
<a id="pl.2.5"></a><var>2.5</var>originates money transfers in this state must allow an individual to voluntarily disqualify <br/>
<a id="pl.2.6"></a><var>2.6</var>the individual from sending or receiving money transfers. The disqualification lasts for <br/>
<a id="pl.2.7"></a><var>2.7</var>one year, unless the individual requests that it be in effect for a period longer than one <br/>
<a id="pl.2.8"></a><var>2.8</var>year. The individual may terminate the disqualification at any time upon written notice <br/>
<a id="pl.2.9"></a><var>2.9</var>to the money transmitter.<br/>
<br/>
<a id="bill.0.3.0"></a><a id="pl.2.10"></a><var>2.10</var>    Sec. 3. Minnesota Statutes 2010, section 325G.06, subdivision 2, is amended to read:<br/>
<a id="pl.2.11"></a><var>2.11</var>    Subd. 2. <b>Home solicitation sale.</b> "Home solicitation sale" means a sale of goods <br/>
<a id="pl.2.12"></a><var>2.12</var>or, services, or improvements to real property by a seller who regularly engages in <br/>
<a id="pl.2.13"></a><var>2.13</var>transactions of the same kind, purchased primarily for personal, family or household <br/>
<a id="pl.2.14"></a><var>2.14</var>purposes, and not for agricultural purposes, with a purchase price of more than $25, in <br/>
<a id="pl.2.15"></a><var>2.15</var>which the seller or a person acting for the seller personally solicits the sale, and when the <br/>
<a id="pl.2.16"></a><var>2.16</var>buyer's agreement or offer to purchase is made at a place other than the place of business <br/>
<a id="pl.2.17"></a><var>2.17</var>of the seller, except as otherwise provided in this subdivision. It does not include:<br/>
<a id="pl.2.18"></a><var>2.18</var>(a) (1) a sale made pursuant to prior negotiations in the course of a visit by the buyer <br/>
<a id="pl.2.19"></a><var>2.19</var>to a retail business establishment having a fixed permanent location where the goods are <br/>
<a id="pl.2.20"></a><var>2.20</var>exhibited or the services are offered for sale on a continuing basis; or<br/>
<a id="pl.2.21"></a><var>2.21</var>(b) (2) a sale in which the buyer has initiated the contact and the goods or services <br/>
<a id="pl.2.22"></a><var>2.22</var>are needed to meet a bona fide immediate personal emergency of the buyer and the buyer <br/>
<a id="pl.2.23"></a><var>2.23</var>furnishes the seller with a separate dated and signed statement not furnished by the seller <br/>
<a id="pl.2.24"></a><var>2.24</var>describing the situation requiring immediate remedy and expressly acknowledging and <br/>
<a id="pl.2.25"></a><var>2.25</var>waiving the right to cancel the sale. This exclusion shall only apply where (i) the seller in <br/>
<a id="pl.2.26"></a><var>2.26</var>good faith makes a substantial beginning of performance of the contract before the buyer <br/>
<a id="pl.2.27"></a><var>2.27</var>gives notice of cancellation, and, (ii) in the case of goods, the goods cannot be returned to <br/>
<a id="pl.2.28"></a><var>2.28</var>the seller in substantially as good condition as when received by the buyer; or<br/>
<a id="pl.2.29"></a><var>2.29</var>(c) (3) a sale in which the buyer has initiated the contact and specifically requested <br/>
<a id="pl.2.30"></a><var>2.30</var>the seller to visit the buyer's home for the purpose of repairing or performing maintenance <br/>
<a id="pl.2.31"></a><var>2.31</var>upon the buyer's property. If in the course of such a visit, the seller sells the buyer the right <br/>
<a id="pl.2.32"></a><var>2.32</var>to receive additional services or goods other than replacement parts necessarily used in <br/>
<a id="pl.2.33"></a><var>2.33</var>performing the maintenance or in making the repairs, the sale of those additional goods or <br/>
<a id="pl.2.34"></a><var>2.34</var>services would not fall within this exclusion; or<br/>
<a id="pl.3.1"></a><var>3.1</var>(d) (4) a sale in which the buyer has initiated the contact either by oral, telephone, or <br/>
<a id="pl.3.2"></a><var>3.2</var>written request (other than on a form provided by the seller), and requested the seller to <br/>
<a id="pl.3.3"></a><var>3.3</var>visit the buyer's home for the purpose of negotiating the purchase of the specific good <br/>
<a id="pl.3.4"></a><var>3.4</var>or service requested. This exclusion shall only apply where the buyer furnishes the <br/>
<a id="pl.3.5"></a><var>3.5</var>seller with a separate dated and signed statement in the buyer's handwriting expressly <br/>
<a id="pl.3.6"></a><var>3.6</var>acknowledging and waiving the right to cancel the sale; or<br/>
<a id="pl.3.7"></a><var>3.7</var>(e) (5) a sale of insurance, securities, or real property; or a sale by public auction; or<br/>
<a id="pl.3.8"></a><var>3.8</var>(f) (6) a sale of a motor vehicle, as defined in section 
         <statute_ref>168.002, subdivision 18</statute_ref>, <br/>
<a id="pl.3.9"></a><var>3.9</var>when the buyer's agreement or offer to purchase is made at a place other than the buyer's <br/>
<a id="pl.3.10"></a><var>3.10</var>place of residence.<br/>