as introduced - 87th Legislature (2011 - 2012) Posted on 03/07/2012 02:14pm
A bill for an act
relating to commerce; regulating closing agents; exempting a licensed attorney
and a direct employee of a licensed attorney from the licensing requirements for
closing agents; amending Minnesota Statutes 2011 Supplement, section 82.641,
subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2011 Supplement, section 82.641, subdivision 1, is
amended to read:
new text begin (a) Except as otherwise provided in paragraph
(b), new text end a person shall not act as a real estate closing agent unless licensed as provided in
this section. The commissioner shall issue a license as a closing agent to a person who
qualifies for the license under the terms of this chapter.
new text begin
(b) A licensed attorney, and a direct employee of a licensed attorney, are exempt
from the licensing requirements of paragraph (a).
new text end
new text begin
This section is effective the day following final enactment.
new text end