SF 2823

1st Engrossment - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to financial institutions; modifying certain provisions relating to vehicle
forfeitures and fees for information releases; amending Minnesota Statutes 2004,
sections 48.513; 169A.63, subdivision 11; 609.535, subdivision 6.

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

Section 1.

Minnesota Statutes 2004, section 48.513, is amended to read:

48.513 FINANCIAL INTERMEDIARY FEES.

A financial intermediary may charge a fee for the assembly, production, and copying
of records requested under chapter 13A, not to exceed the schedule established from time
to time by the Federal Reserve System under Regulation S, Code of Federal Regulations,
title 12, part 219 deleted text begin , except that a fee may not be imposed if the records are requested by a
law enforcement agency or prosecuting authority. This section does not apply to requests
made under section 609.535 deleted text end . For purposes of this section, "financial intermediary" has the
meaning given in section 48.512, subdivision 1.

Sec. 2.

Minnesota Statutes 2004, section 169A.63, subdivision 11, is amended to read:

Subd. 11.

Sale of forfeited vehicle by secured party.

(a) A financial institution
with a valid security interest in or a valid lease covering a forfeited vehicle may choose to
dispose of the vehicle under this subdivision, in lieu of the appropriate agency disposing
of the vehicle under subdivision 9. A financial institution wishing to dispose of a vehicle
under this subdivision shall notify the appropriate agency of its intent, in writing, within
30 days after receiving notice of the seizure and forfeiture. The appropriate agency shall
release the vehicle to the financial institution or its agent after the financial institution
presents proof of its valid security agreement or of its lease agreement deleted text begin and the financial
institution agrees not to sell the vehicle to a member of the violator's household, unless
the violator is not convicted of the offense on which the forfeiture is based deleted text end . The financial
institution shall dispose of the vehicle in a commercially reasonable manner as defined in
section 336.9-610.

(b) After disposing of the forfeited vehicle, the financial institution deleted text begin shall reimburse
the appropriate agency for its seizure, storage, and forfeiture costs. The financial
institution deleted text end may then apply the proceeds of the sale to its storage costs, to its sale expenses,
and to satisfy the lien or the lease on the vehicle. If any proceeds remain, the financial
institution shall new text begin reimburse the appropriate agency for the agency's seizure, storage, and
forfeiture costs and then new text end forward deleted text begin the deleted text end new text begin any remaining new text end proceeds to the state treasury, which
shall credit the appropriate fund as specified in subdivision 9.

Sec. 3.

Minnesota Statutes 2004, section 609.535, subdivision 6, is amended to read:

Subd. 6.

Release of account information to law enforcement authorities.

A
drawee shall release the information specified below to any state, county, or local law
enforcement or prosecuting authority which certifies in writing that it is investigating
or prosecuting a complaint against the drawer under this section or section 609.52,
subdivision 2, clause (3)(a), and that 15 days have elapsed since the mailing of the notice
of dishonor required by subdivisions 3 and 8. This subdivision applies to the following
information relating to the drawer's account:

(1) documents relating to the opening of the account by the drawer and to the closing
of the account;

(2) notices regarding nonsufficient funds, overdrafts, and the dishonor of any check
drawn on the account within a period of six months of the date of request;

(3) periodic statements mailed to the drawer by the drawee for the periods
immediately prior to, during, and subsequent to the issuance of any check which is the
subject of the investigation or prosecution; or

(4) the last known home and business addresses and telephone numbers of the
drawer.

The drawee shall release all of the information described in clauses (1) to (4) that it
possesses within ten days after receipt of a request conforming to all of the provisions
of this subdivision. The drawee may deleted text begin not deleted text end impose a fee for furnishing this information deleted text begin to
law enforcement or prosecuting authorities deleted text end .

A drawee is not liable in a criminal or civil proceeding for releasing information in
accordance with this subdivision.