<a id="pl.1.3"></a><var>1.3</var>owners of the property to be sold;proposing coding for new law in Minnesota <br/>
<a id="pl.1.4"></a><var>1.4</var>Statutes, chapter 325E.<br/>
<a id="pl.1.5"></a><var>1.5</var>BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:<br/>
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<a id="bill.0.1.0"></a><a id="pl.1.6"></a><var>1.6</var>    Section 1. <b>[325E.70] ESTATE SALE CONDUCTORS; BONDING REQUIRED.</b><br/>
<a id="pl.1.7"></a><var>1.7</var>    Subdivision 1. <b>Definitions.</b> (a) For purposes of this section, the terms defined in <br/>
<a id="pl.1.8"></a><var>1.8</var>this subdivision have the meanings given.<br/>
<a id="pl.1.9"></a><var>1.9</var>(b) "Estate sale" means a sale, to which the public is invited, of physical assets, <br/>
<a id="pl.1.10"></a><var>1.10</var>suited primarily for household or personal use, owned by one or more individuals or <br/>
<a id="pl.1.11"></a><var>1.11</var>families, or by the estate of a deceased individual. Estate sale does not include an auction.<br/>
<a id="pl.1.12"></a><var>1.12</var>(c) "Estate sale conductor" means an individual, including an auctioneer, who <br/>
<a id="pl.1.13"></a><var>1.13</var>conducts, or contracts to conduct, an estate sale in the expectation or hope of receiving <br/>
<a id="pl.1.14"></a><var>1.14</var>financial compensation for services rendered.<br/>
<a id="pl.1.15"></a><var>1.15</var>(d) "Conducts an estate sale" means entering into and performing an agreement with <br/>
<a id="pl.1.16"></a><var>1.16</var>the owner or owners of property to be sold at an estate sale, in which agreement the <br/>
<a id="pl.1.17"></a><var>1.17</var>estate sale conductor undertakes to take responsibility for conducting the sale, including <br/>
<a id="pl.1.18"></a><var>1.18</var>functions such as advice, advertising, pricing, display of merchandise, selling, receiving <br/>
<a id="pl.1.19"></a><var>1.19</var>and accounting for payments, and record-keeping.<br/>
<a id="pl.1.20"></a><var>1.20</var>    Subd. 2. <b>Estate sale conductor bonding requirement.</b> (a) Before entering into an <br/>
<a id="pl.1.21"></a><var>1.21</var>agreement to conduct an estate sale, the estate sale conductor shall give or previously have <br/>
<a id="pl.1.22"></a><var>1.22</var>filed a corporate surety bond to the county in which the estate sale will take place, or in <br/>
<a id="pl.1.23"></a><var>1.23</var>which the estate sale conductor resides, in a penal sum of at least $20,000, conditioned <br/>
<a id="pl.1.24"></a><var>1.24</var>that the estate sale conductor will pay all sums required by law or contract and in all <br/>
<a id="pl.2.1"></a><var>2.1</var>things conform to the contract and to all laws relevant to the estate sale or to persons who <br/>
<a id="pl.2.2"></a><var>2.2</var>conduct estate sales. The county treasurer, for approval, shall endorse the bond and file it <br/>
<a id="pl.2.3"></a><var>2.3</var>in the county treasurer's office.<br/>
<a id="pl.2.4"></a><var>2.4</var>(b) Paragraph (a) applies to an auctioneer who conducts an estate sale, on the same <br/>
<a id="pl.2.5"></a><var>2.5</var>basis as any other estate sale conductor, regardless of whether the auctioneer has also <br/>
<a id="pl.2.6"></a><var>2.6</var>posted the bond required under section 330.02 for the auctioneer's sales conducted as <br/>
<a id="pl.2.7"></a><var>2.7</var>an auctioneer.<br/>
<a id="pl.2.8"></a><var>2.8</var>    Subd. 3. <b>Exemption.</b> This section shall not apply to licensed certified public <br/>
<a id="pl.2.9"></a><var>2.9</var>accountants or licensed attorneys.<br/>
<a id="pl.2.10"></a><var>2.10</var><b>EFFECTIVE DATE.</b>This section is effective January 1, 2014, and applies to <br/>
<a id="pl.2.11"></a><var>2.11</var>estate sales conducted on or after that date.<br/>