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    Subdivision 1. Procedure. The commissioner may revoke, suspend, or refuse to renew any
registration issued under this chapter, or may levy a civil penalty under section 45.027, or any
combination of actions, if the debt management services provider or any controlling or affiliated
person has committed any act or omission for which the commissioner could have refused to
issue an initial registration or renew an existing registration. Revocation of or refusal to renew a
registration must be upon notice and hearing as prescribed in the Administrative Procedure
Act, sections 14.57 to 14.69. The notice must set a time for hearing before the commissioner
not less than 20 nor more than 30 days after service of the notice, provided the registrant may
waive the 20-day minimum. The commissioner may, in the notice, suspend the registration for a
period not to exceed 60 days. Unless the notice states that the registration is suspended, pending
the determination of the main issue, the registrant may continue to transact business until the
final decision of the commissioner. If the registration is suspended, the commissioner shall hold
a hearing and render a final determination within ten days of a request by the registrant. If the
commissioner fails to do so, the suspension shall terminate and be of no force or effect.
    Subd. 2. Notification of interested persons. After the notice and hearing required in
subdivision 1, upon issuing an order suspending or revoking a registration or refusing to renew a
registration, the commissioner may notify all individuals who have contracts with the affected
registrant and all creditors who have agreed to a debt management services plan that the
registration has been revoked and that the order is subject to appeal.
    Subd. 3. Receiver for funds of sanctioned registrant. When an order is issued revoking
or refusing to renew a registration, the commissioner may apply for, and the district court must
appoint, a receiver to temporarily or permanently receive the assets of the registrant pending a
final determination of the validity of the order.
History: 2007 c 57 art 3 s 52

Official Publication of the State of Minnesota
Revisor of Statutes