relating to debt collectors; amending procedures for licensure of debt collection agencies and registration of individual debt collectors;
amending Minnesota Statutes 2010, sections 332.33, subdivisions 7, 8; 332.35.
A licensed collection agency or registered individual collector must give the commissioner written notice of a change in personal name, company name, address, or ownership not later than 15 days after the change occurs.
Screening process requirement.
Each licensed collection agency must establish procedures to follow when screening an individual collector applicant prior to submitting an applicant to the commissioner for registration.
The commissioner may review the procedures to ensure the integrity of the screening process. Failure to establish these procedures is subject to action under section 332.40.
332.35 PRIOR CONVICTION OR JUDGMENT AS DISQUALIFICATION.
No registration shall be accepted for, and no license shall be issued to, any person, firm, corporation or association who or which, or any of the officers of which have, within the past five years,
been convicted in any court of fraud or any felony or have been convicted of or had judgment entered against them in any court for failure to account to a client or customer for money or property collected by them for the client or customer. No registration shall be accepted for, and no license shall be issued to, any attorney whose license to practice law has been suspended or revoked, for a period of five years after the date of such suspension or revocation.
Presented to the governor April 20, 2012
Signed by the governor April 23, 2012, 11:23 a.m.