Title Minnesota Statutes, Minnesota Statutes

332A.06 RENEWAL OF REGISTRATION. Each year, each registrant under the provisions of this chapter must, not more than 60 nor less than 30 days before its registration is to expire, apply to the commissioner for renewal of its registration on a form prescribed by the commissioner. …

332A.07 OTHER DUTIES OF REGISTRANT. § Subdivision 1.Requirement to update information. A registrant must update any information required by this chapter provided in its original or renewal application not later than ten days after the date the events precipitating the update occu…

332A.08 DENIAL OF REGISTRATION. The commissioner, with notice to the applicant by certified mail sent to the address listed on the application, may deny an application for a registration upon finding that the applicant: (1) has submitted an application required under section 332A…

332A.09 SUSPENDING, REVOKING, OR REFUSING TO RENEW REGISTRATION. § 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…

332A.10 WRITTEN DEBT MANAGEMENT SERVICES AGREEMENT. § Subdivision 1.Written agreement required. (a) A debt management services provider may not perform any debt management services or receive any money related to a debt management services plan until the provider has obtained a d…

332A.11 RIGHT TO CANCEL. § Subdivision 1.Debtor's right to cancel. A debtor has the right to cancel the debt management services agreement without cause at any time upon ten days' written notice to the debt management services provider. In the event of cancellation, the debt mana…

332A.12 BOOKS, RECORDS, AND INFORMATION. § Subdivision 1.Records retention. Every registrant must keep, and use in the registrant's business, such books, accounts, and records, including electronic records, as will enable the commissioner to determine whether the registrant is co…

332A.13 FEES, PAYMENTS, AND CONSENT OF CREDITORS. § Subdivision 1.Origination fee. The registrant may charge a nonrefundable origination fee of not more than $50, which may be retained by the registrant from the initial amount paid by the debtor to the registrant. § Subd. 2.Month…

332A.14 PROHIBITIONS. No debt management services provider shall: (1) purchase from a creditor any obligation of a debtor; (2) use, threaten to use, seek to have used, or seek to have threatened the use of any legal process, including but not limited to garnishment and repossessi…

332A.16 ADVERTISEMENT OF DEBT MANAGEMENT SERVICES. No debt management services provider may make false, deceptive, or misleading statements or omissions about the rates, terms, or conditions of an actual or proposed debt management services plan or its debt management services, o…

332A.17 DEBT MANAGEMENT SERVICES AGREEMENT RESCISSION. Any debtor has the right to rescind any debt management services agreement with a debt management services provider that commits a material violation of this chapter. On rescission, all fees paid to the debt management servic…

332A.18 ENFORCEMENT; REMEDIES. § Subdivision 1.Violation a deceptive practice. A violation of any of the provisions of this chapter is considered an unfair or deceptive trade practice under section 8.31, subdivision 1. A private right of action under section 8.31 by an aggrieved …

332A.19 INVESTIGATION. At any reasonable time, the commissioner may examine the books and records of every registrant and of any person engaged in the business of providing debt management services as defined in section 332A.02. The commissioner once during any calendar year may …