1.1 	A bill for an act
1.2 	relating to commerce; regulating collection agency license fees; requiring a 
1.3 	reduced fee in certain cases;amending Minnesota Statutes 2010, section 332.33, 
1.4 	subdivision 3.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2010, section 332.33, subdivision 3, is amended to read:
1.7 		Subd. 3.Term. Licenses issued or renewed and registrations received by the 
1.8 	commissioner of commerce under sections 332.31 to 332.45 shall expire on June 30. For 
1.9 	an initial collection agency license issued on or after January 1 but on or before June 30 
1.10 	of any calendar year, the license does not expire until June 30 of the next calendar year. 
1.11 	Each collection agency license shall plainly state the name and business address of the 
1.12 	licensee, and shall be posted in a conspicuous place in the office where the business 
1.13 	is transacted. The fee for each collection agency license is $500, and renewal is $400. 
1.14 	The fee for each collector registration and renewal is $10. A collection agency licensee 
1.15 	who desires to carry on business in more than one place shall procure a license for each 
1.16 	place where the business is to be conducted.

1.17 	EFFECTIVE DATE. This section is effective the day following final enactment.