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Chapter 53C
Section 53C.07
Topics
This is an historical version of this statute chapter. Also view the most recent published version.
53C.07 VEHICLE SALES FINANCE COMPANY BOOKS OF ACCOUNT, ANNUAL
REPORT.
(a) The licensee shall keep and use in the licensee's business such books, accounts, and
records as will enable the commissioner to determine whether the licensee is complying with the
provisions of sections 53C.01 to 53C.14 and with the rules lawfully made by the commissioner
hereunder. Every licensee shall preserve such books, accounts, and records, including cards used
in the card system, if any, for at least two years after making the final entry on any conditional
sale contract recorded therein.
(b) Each licensee shall annually on or before March 15 file a report to the commissioner
giving such relevant information as the commissioner reasonably may require concerning the
business and operations during the preceding calendar year of each licensed place of business,
conducted by such licensee within the state. Such report shall be made under oath and shall be
in the form prescribed by the commissioner, who shall make and publish annually an analysis
and recapitulation of such reports.
History: 1971 c 398 s 3; 1985 c 248 s 70; 1986 c 444; 2005 c 19 s 1
REPORT.
(a) The licensee shall keep and use in the licensee's business such books, accounts, and
records as will enable the commissioner to determine whether the licensee is complying with the
provisions of sections 53C.01 to 53C.14 and with the rules lawfully made by the commissioner
hereunder. Every licensee shall preserve such books, accounts, and records, including cards used
in the card system, if any, for at least two years after making the final entry on any conditional
sale contract recorded therein.
(b) Each licensee shall annually on or before March 15 file a report to the commissioner
giving such relevant information as the commissioner reasonably may require concerning the
business and operations during the preceding calendar year of each licensed place of business,
conducted by such licensee within the state. Such report shall be made under oath and shall be
in the form prescribed by the commissioner, who shall make and publish annually an analysis
and recapitulation of such reports.
History: 1971 c 398 s 3; 1985 c 248 s 70; 1986 c 444; 2005 c 19 s 1
Official Publication of the State of Minnesota
Revisor of Statutes