{\rtf1\ansi\deff0{\fonttbl{\f0 Times New Roman;}}\margl480\margr0\margt0\margb0\fs20\n\line \line\n\line \line\n\line \line\n\line {\pard\n\line \n\line
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1.1A bill for an act \n\line \n\line
1.2relating to commerce; requiring estate sale conductors to post a bond to protect \n\line 1.3owners of the property to be sold;proposing coding for new law in Minnesota \n\line 1.4Statutes, chapter 325E. \n\line 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: \n\line \n\line 1.6 Section 1. {\ul [325E.70] ESTATE SALE CONDUCTORS; BONDING REQUIRED.} \n\line 1.7 {\ul Subdivision 1.} {\ul Definitions.} {\ul (a) For purposes of this section, the terms defined in } \n\line 1.8{\ul this subdivision have the meanings given.} \n\line 1.9{\ul (b) "Estate sale" means a sale, to which the public is invited, of physical assets, } \n\line 1.10{\ul suited primarily for household or personal use, owned by one or more individuals or } \n\line 1.11{\ul families, or by the estate of a deceased individual. Estate sale does not include an auction.} \n\line 1.12{\ul (c) "Estate sale conductor" means an individual, including an auctioneer, who } \n\line 1.13{\ul conducts, or contracts to conduct, an estate sale in the expectation or hope of receiving } \n\line 1.14{\ul financial compensation for services rendered.} \n\line 1.15{\ul (d) "Conducts an estate sale" means entering into and performing an agreement with } \n\line 1.16{\ul the owner or owners of property to be sold at an estate sale, in which agreement the } \n\line 1.17{\ul estate sale conductor undertakes to take responsibility for conducting the sale, including } \n\line 1.18{\ul functions such as advice, advertising, pricing, display of merchandise, selling, receiving } \n\line 1.19{\ul and accounting for payments, and record-keeping.} \n\line 1.20 {\ul Subd. 2.} {\ul Estate sale conductor bonding requirement.} {\ul (a) Before entering into an } \n\line 1.21{\ul agreement to conduct an estate sale, the estate sale conductor shall give or previously have } \n\line 1.22{\ul filed a corporate surety bond to the county in which the estate sale will take place, or in } \n\line 1.23{\ul which the estate sale conductor resides, in a penal sum of at least $20,000, conditioned } \n\line 1.24{\ul that the estate sale conductor will pay all sums required by law or contract and in all } \n\line 2.1{\ul things conform to the contract and to all laws relevant to the estate sale or to persons who } \n\line 2.2{\ul conduct estate sales. The county treasurer, for approval, shall endorse the bond and file it } \n\line 2.3{\ul in the county treasurer's office.} \n\line 2.4{\ul (b) Paragraph (a) applies to an auctioneer who conducts an estate sale, on the same } \n\line 2.5{\ul basis as any other estate sale conductor, regardless of whether the auctioneer has also } \n\line 2.6{\ul posted the bond required under section 330.02 for the auctioneer's sales conducted as } \n\line 2.7{\ul an auctioneer.} \n\line 2.8 {\ul Subd. 3.} {\ul Exemption.} {\ul This section shall not apply to licensed certified public } \n\line 2.9{\ul accountants or licensed attorneys.} \n\line 2.10{\ul EFFECTIVE DATE.}{\ul This section is effective January 1, 2014, and applies to } \n\line 2.11{\ul estate sales conducted on or after that date.} \n\line \n\line