PRIVATE RIGHT OF ACTION.

82B.24 PRIVATE RIGHT OF ACTION. § Subdivision 1.Remedies. Any person injured by a violation of the standards, duties, prohibitions, or requirements of section 82B.20 or 82B.22 shall have a private right of action and the court shall award: (1) actual, incidental, and consequential damages; (2) statutory damages of no less than $1,000 nor more than $2,000; (3) punitive damages if appropriate, and as provided in sections 549.191 and 549.20; and (4) court costs and reasonable attorney fees. § Subd. 2.Private attorney general statute. A person injured by a violation of the standards, duties, prohibitions, or requirements of section 82B.20 or 82B.22 also may bring an action under section 8.31. A private right of action by a borrower under this chapter is in the public interest. § Subd. 3.Remedies cumulative. The remedies provided in this section are cumulative and do not restrict any other right or remedy otherwise available to the borrower. § Subd. 4.Time limitations. (a) A private right of action must be commenced the earlier of: (1) six years from the date the appraisal services giving rise to the cause of action were performed or should have been performed; (2) six years from the date the appraisal giving rise to the cause of action was completed or should have been completed; or (3) the expiration of any other applicable statute of limitations. (b) Paragraph (a), clauses (1) and (2), do not apply when the person alleges that an injury occurred due to: (1) knowing and intentional fraud; or (2) knowing and intentional misrepresentation during the performance of an appraisal. History: 2007 c 74 s 6; 2017 c 37 s 5