2006 Minnesota Statutes

53A.03 APPLICATION FOR LICENSE; FEES.
(a) An application for a license must be in writing, under oath, and in the form prescribed
and furnished by the commissioner and must contain the following:
(1) the full name and address (both of residence and place of business) of the applicant, and
if the applicant is a partnership or association, of every member, and the name and business
address if the applicant is a corporation;
(2) the county and municipality, with street and number, if any, of all currency exchange
locations operated by the applicant; and
(3) the applicant's occupation or profession, for the ten years immediately preceding the
application; present or previous connection with any other currency exchange in this or any other
state; whether the applicant has ever been convicted of any crime; and the nature of the applicant's
occupancy of the premises to be licensed; and if the applicant is a partnership or a corporation, the
information specified in this paragraph must be supplied for each partner and each officer and
director of the corporation. If the applicant is a partnership or a nonpublicly held corporation, the
information specified in this paragraph must be required of each partner and each officer, director,
and stockholders owning in excess of ten percent of the corporate stock of the corporation.
(b) The application shall be accompanied by a nonrefundable fee of $1,000 for the review
of the initial application. Upon approval by the commissioner, an additional license fee of $500
must be paid by the applicant as an annual license fee for the remainder of the calendar year. An
annual license fee of $500 is due for each subsequent calendar year of operation upon submission
of a license renewal application on or before September 1. Fees must be deposited in the state
treasury and credited to the general fund. Upon payment of the required annual license fee, the
commissioner shall issue a license for the year beginning January 1.
(c) The commissioner shall require the applicant to submit to a background investigation
conducted by the Bureau of Criminal Apprehension as a condition of licensure. As part of the
background investigation, the Bureau of Criminal Apprehension shall conduct criminal history
checks of Minnesota records and is authorized to exchange fingerprints with the Federal Bureau
of Investigation for the purpose of a criminal background check of the national files. The cost of
the investigation must be paid by the applicant.
(d) For purposes of this section, "applicant" includes an employee who exercises management
or policy control over the company, a director, an officer, a limited or general partner, a manager,
or a shareholder holding more than ten percent of the outstanding stock of the corporation.
History: 1989 c 247 s 3; 1992 c 504 s 3; 1993 c 354 s 1; 1999 c 223 art 2 s 2