Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
53A.02 LICENSE.
Subdivision 1. Requirement. A person may not engage in the business of a currency
exchange without first obtaining a license from the commissioner. Not more than one place of
business may be operated under the same license, but the commissioner may issue more than
one license to the same licensee upon compliance by the applicant with all the provisions of this
chapter for each new license issued.
Subd. 2. Distance limitation. No license may be issued or renewed under this chapter if
the place of business to be operated under the license is located or proposed to be located within
one-half mile of another licensed currency exchange. The distance limitation imposed by this
subdivision is measured by a straight line from the closest points of the closest structures involved.
Subd. 3. Prohibition. A licensee may not contract with another person or business entity to
manage the currency exchange business. This subdivision does not prohibit the licensee from
employing persons to operate a currency exchange facility.
History: 1989 c 247 s 2; 1992 c 504 s 2
Subdivision 1. Requirement. A person may not engage in the business of a currency
exchange without first obtaining a license from the commissioner. Not more than one place of
business may be operated under the same license, but the commissioner may issue more than
one license to the same licensee upon compliance by the applicant with all the provisions of this
chapter for each new license issued.
Subd. 2. Distance limitation. No license may be issued or renewed under this chapter if
the place of business to be operated under the license is located or proposed to be located within
one-half mile of another licensed currency exchange. The distance limitation imposed by this
subdivision is measured by a straight line from the closest points of the closest structures involved.
Subd. 3. Prohibition. A licensee may not contract with another person or business entity to
manage the currency exchange business. This subdivision does not prohibit the licensee from
employing persons to operate a currency exchange facility.
History: 1989 c 247 s 2; 1992 c 504 s 2
Official Publication of the State of Minnesota
Revisor of Statutes