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SF 2922

1st Unofficial Engrossment - 92nd Legislature (2021 - 2022) Posted on 05/18/2022 06:26pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
relating to commerce; modifying provisions governing licensure and registration
of collection agencies; requiring the commissioner of commerce to collect and
maintain certain information regarding credit counseling services; amending
Minnesota Statutes 2020, section 332.33, subdivision 3, by adding a subdivision;
proposing coding for new law in Minnesota Statutes, chapter 332.

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

Section 1.

Minnesota Statutes 2020, 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 332.44 shall expire on June 30. 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 $10new text begin, which entitles the individual collector to work at
a licensee's business location or in another location as provided under subdivision 5b. An
additional branch license is not required for a location used under subdivision 5b
new text end. 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 June 1, 2022.
new text end

Sec. 2.

Minnesota Statutes 2020, section 332.33, is amended by adding a subdivision to
read:


new text begin Subd. 5b. new text end

new text begin Work from home. new text end

new text begin An employee of a licensed collection agency may work
from a location other than the licensee's business location if the licensee and employee
comply with all requirements under this section that would apply if the employee were
working at the business location.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective June 1, 2022.
new text end

Sec. 3.

new text begin [332.365] CREDIT COUNSELING ORGANIZATIONS; DEBTORS.
new text end

new text begin Subdivision 1. new text end

new text begin Duties of commissioner. new text end

new text begin (a) The commissioner shall develop and maintain
a document that includes the contact information for nonprofit organizations domiciled in
Minnesota that provide credit counseling services to debtors. Credit counseling services
include but are not limited to (1) helping debtors understand their rights and responsibilities,
and (2) working with debtors, creditors, and collection agencies to satisfy debts. Contact
information for organizations that provide credit counseling services in languages other
than English to individuals whose primary language is other than English must be included.
The document shall include the following statement in English, Spanish, Somali, Hmong,
Vietnamese, and Chinese:
new text end

new text begin "There are resources available to help manage your debt. The following Minnesota
organizations offer debt and credit counseling services. The Department of Commerce does
not control or guarantee any of the services provided by these organizations. The provision
of this list is not a referral to, or endorsement or recommendation of, any organization or
the organization's services."
new text end

new text begin (b) The document shall be no more than one 8-1/2 by 11-inch sheet of paper. The
commissioner shall maintain the document and make it publicly available on the department's
website in a printable format. The commissioner may update the document no more than
once per year and must notify all licensed collection agencies after an update occurs. A
collection agency has 120 days from receiving notice from the commissioner of an update
to apply the changes to the document.
new text end

new text begin Subd. 2. new text end

new text begin Duties of collection agency. new text end

new text begin A collection agency must include the document
described in subdivision 1, with the initial written communication sent to a debtor, if the
initial communication is performed via United States mail, e-mail, or text message.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin (a) This section is effective July 1, 2022.
new text end

new text begin (b) The document required to be developed and maintained by the commissioner under
subdivision 1, paragraph (a), must be completed on or before July 1, 2023. The document
may be updated for the first time by the commissioner no earlier than September 1, 2024.
new text end

new text begin (c) A collection agency must meet the requirements of subdivision 2 on or after September
1, 2023.
new text end