Minnesota Session Laws - 1984, Regular Session

  

                         Laws of Minnesota 1984 

                        CHAPTER 653-H.F.No. 1743 
           An act relating to occupations and professions; 
          modifying an auctioneer's exemption from real estate 
          brokers and salespersons licensing; amending Minnesota 
          Statutes 1983 Supplement, section 82.18. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1983 Supplement, section 
82.18, is amended to read:  
    82.18 [EXCEPTIONS.] 
    Unless a person is licensed or otherwise required to be 
licensed under this chapter, the term real estate broker does 
not include: 
    (a) a licensed practicing attorney acting solely as an 
incident to the practice of law if the attorney complies in all 
respects with the trust account provisions of this chapter; 
    (b) a receiver, trustee, administrator, guardian, executor, 
or other person appointed by or acting under the judgment or 
order of any court; 
    (c) any person owning and operating a cemetery and selling 
lots therein solely for use as burial plots; 
    (d) any custodian, janitor, or employee of the owner or 
manager of a residential building who leases residential units 
in the building; 
    (e) any bank, trust company, savings and loan association, 
industrial loan and thrift company, regulated lender under 
chapter 56, public utility, or land mortgage or farm loan 
association organized under the laws of this state or the United 
States, when engaged in the transaction of business within the 
scope of its corporate powers as provided by law; 
    (f) public officers while performing their official duties; 
    (g) employees of persons enumerated in clauses (b), (e) and 
(f), when engaged in the specific performance of their duties; 
    (h) any person who acts as an auctioneer bonded in 
conformity with section 330.02, when that person is engaged in 
the specific performance of his or her duties as an auctioneer, 
and when that person has been employed to auction real estate by 
a person licensed under this chapter or when the auctioneer has 
engaged a licensed attorney to supervise the real estate 
transaction;  
    (i) any person who acquires real estate for the purpose of 
engaging in and does engage in, or who is engaged in the 
business of constructing residential, commercial or industrial 
buildings for the purpose of resale if no more than 25 such 
transactions occur in any 12-month period and the person 
complies with section 82.24; 
    (j) any person who offers to sell or sells an interest or 
estate in real estate which is a security registered pursuant to 
chapter 80A, when acting solely as an incident to the sale of 
these securities; 
    (k) any person who offers to sell or sells a business 
opportunity which is a franchise registered pursuant to chapter 
80C, when acting solely to sell the franchise; 
    (l) any person who contracts with or solicits on behalf of 
a provider a contract with a resident or prospective resident to 
provide continuing care in a facility, pursuant to the 
Continuing Care Facility Disclosure and Rehabilitation Act 
(chapter 80D), when acting solely as incident to the contract;  
    (m) any broker-dealer or agent of a broker-dealer when 
participating in a transaction in which all or part of a 
business opportunity or business, including any interest 
therein, is conveyed or acquired pursuant to an asset purchase, 
merger, exchange of securities or other business combination, if 
the agent or broker-dealer is licensed pursuant to chapter 80A.  
     Sec. 2.  [EFFECTIVE DATE.] 
     Section 1 is effective July 1, 1985. 
    Approved May 2, 1984