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    On or after August 1, 2007, it is unlawful for any person, whether or not located in this
state, to operate as a debt management services provider or provide debt management services,
including but not limited to offering, advertising, or executing or causing to be executed any
debt management services or debt management services agreement, except as authorized by
law without first becoming registered as provided in this chapter. A person who possesses a
valid license as a debt prorater that was issued by the commissioner before August 1, 2007, is
deemed to be registered as a debt management services provider until the date the debt prorater
license expires, at which time the licensee must obtain a renewal as a debt management services
provider in compliance with this chapter. Debt proraters who were not required to be licensed
as debt proraters before August 1, 2007, may continue to provide debt management services
without complying with this chapter to those debtors who entered into a contract to participate
in a debt management plan before August 1, 2007, except that the debt prorater must comply
with section 332A.13, subdivision 2.
History: 2007 c 57 art 3 s 46

Official Publication of the State of Minnesota
Revisor of Statutes