HF 1947

3rd Engrossment - 89th Legislature (2015 - 2016) Posted on 05/12/2015 03:23pm

A bill for an act
relating to commerce; permitting payment in cash for used wireless
communications devices in certain circumstances; modifying effect of
nonredemption; amending Minnesota Statutes 2014, sections 325E.319,
subdivision 4; 325J.06.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2014, section 325E.319, subdivision 4, is amended to
read:

Subd. 4.

Payment for used wireless communications devices.

new text begin (a) new text end A wireless
communications device dealer shall pay for purchases of all used wireless communications
devices by check mailed to a specific address or by electronic transfer.

new text begin (b) The purchase price may be paid in cash at a kiosk if (1) the transaction is
reported to the law enforcement authority with jurisdiction where the purchase was made;
(2) a thumbprint is obtained from the seller in the transaction; (3) the seller is provided a
disclosure that the seller's transactional information is shared with law enforcement; (4)
multiple high resolution photographs of the seller are obtained at the kiosk; and (5) the
placement of the kiosk has been approved by the municipality in which it is located.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2.

Minnesota Statutes 2014, section 325J.06, is amended to read:

325J.06 EFFECT OF NONREDEMPTION.

(a) A pledgor shall have no obligation to redeem pledged goods or make any
payment on a pawn transaction. Pledged goods not redeemed within at least 60 days of the
date of the pawn transaction deleted text begin , renewal, or extension deleted text end shall automatically be forfeited to the
pawnbroker, and qualified right, title, and interest in and to the goods shall automatically
vest in the pawnbroker.

(b) The pawnbroker's right, title, and interest in the pledged goods under paragraph
(a) is qualified only by the pledgor's right, while the pledged goods remain in possession
of the pawnbroker and not sold to a third party, to redeem the goods by paying the loan
plus fees and/or interest accrued up to the date of redemption.

(c) A pawn transaction that involves holding only the title to property is subject
to chapter 168A or 336.