SF 2468

as introduced - 87th Legislature (2011 - 2012) Posted on 03/16/2012 08:30am

A bill for an act
relating to commerce; regulating collection agency license fees; requiring a
reduced fee in certain cases; amending Minnesota Statutes 2010, section 332.33,
subdivision 3.

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

Section 1.

Minnesota Statutes 2010, section 332.33, subdivision 3, is amended to read:

Subd. 3.

Term.

Licenses issued or renewed and registrations received by the
commissioner of commerce under sections 332.31 to 332.45 shall expire on June 30. new text begin For
an initial collection agency license issued on or after January 1 but on or before June 30
of any calendar year, the license does not expire until June 30 of the next calendar year.
new text end Each collection agency license shall plainly state the name and business address of the
licensee, and shall be posted in a conspicuous place in the office where the business
is transacted. The fee for each collection agency license is $500, and renewal is $400.
The fee for each collector registration and renewal is $10. A collection agency licensee
who desires to carry on business in more than one place shall procure a license for each
place where the business is to be conducted.

new text begin EFFECTIVE DATE. new text end

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