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58.05 Exemptions from license.

Subdivision 1. Exemption from licensure. An exempt person as defined by section 58.04, subdivision 1, paragraph (b), and subdivision 2, paragraph (b), is exempt from the licensing requirements of this chapter, but is subject to all other provisions of this chapter.

Subd. 2. Eligibility for exemption. To qualify as an exempt person, a person, except an employee exempt under section 58.04, subdivision 1, paragraph (b), clause (1), or subdivision 2, paragraph (b), clause (2), or an individual real estate licensee exempt under section 58.04, subdivision 1, paragraph (b), clause (3), must obtain a certificate of exemption from the commissioner. A certificate of exemption will be issued upon the person's filing, on a form provided by the commissioner, a statement indicating the basis on which the exemption is claimed and, if applicable, the name and address of the state or federal regulatory agency or body to which complaints regarding the person's residential mortgage originating or servicing activities may be directed.

HIST: 1998 c 343 art 1 s 5