Title Minnesota Statutes, Minnesota Statutes

81A.24 SERVICE OF PROCESS; INVESTIGATING POWERS. § Subdivision 1.Appointment of agent. By acting as an athlete agent in this state, a nonresident individual appoints the commissioner as the individual's agent for service of process in any civil action in this state related to the…

81A.25 CERTIFICATE OF REGISTRATION REQUIRED. § Subdivision 1.Required. Except as otherwise provided in subdivision 2, an individual may not act as an athlete agent in this state without holding a certificate of registration under section 81A.27. § Subd. 2.Exceptions. Before being…

81A.26 REGISTRATION APPLICATION. § Subdivision 1.Form and content. An applicant for registration as an athlete agent shall submit an application for registration to the commissioner in a form prescribed by the commissioner. The applicant must be an individual, and the application…

81A.27 REGISTRATION ISSUANCE AND RENEWAL. § Subdivision 1.Issuance. Except as otherwise provided in subdivision 2, the commissioner shall issue a certificate of registration to an applicant for registration who complies with section 81A.26, subdivision 1. § Subd. 2.Refusal to iss…

81A.28 SUSPENSION, REVOCATION, OR REFUSAL TO RENEW REGISTRATION. (a) The commissioner may limit, suspend, revoke, or refuse to renew a registration of an individual registered under section 81A.27, subdivision 1, for conduct that would have justified refusal to issue a certificat…

81A.29 TEMPORARY REGISTRATION. The commissioner may issue a temporary certificate of registration as an athlete agent while an application for registration or renewal of registration is pending. History: 2018 c 192 art 1 s 7

81A.30 REGISTRATION AND RENEWAL FEES. An application for registration must be accompanied by a $500 fee. An application for renewal of registration must be accompanied by a $400 fee. History: 2002 c 332 s 9; 2018 c 192 art 2 s 2

81A.31 AGENCY CONTRACT. § Subdivision 1.Form. An agency contract must be in a record signed by the parties. § Subd. 2.Content. An agency contract must contain: (1) a statement that the athlete agent is registered as an athlete agent in this state and a list of any other states in…

81A.32 REQUIRED NOTICES. § Subdivision 1.Definition. In this section, "communicating or attempting to communicate" means contacting or attempting to contact by an in-person meeting, a record, or any other method that conveys or attempts to convey a message. § Subd. 2.Athlete agen…

81A.33 STUDENT ATHLETE'S RIGHT TO CANCEL. § Subdivision 1.Requirement. A student athlete or, if the athlete is a minor, the parent or guardian of the athlete may cancel an agency contract by giving notice in a record of cancellation to the athlete agent not later than 14 days aft…

81A.34 REQUIRED RECORDS. § Subdivision 1.Retention; specification. An athlete agent shall create and retain for five years records of the following: (1) the name and address of each individual represented by the agent; (2) each agency contract entered into by the agent; and (3) t…

81A.35 PROHIBITED CONDUCT. § Subdivision 1.Conduct intended to induce student athlete to contract. An athlete agent, with the intent to influence a student athlete or, if the athlete is a minor, a parent or guardian of the athlete to enter into an agency contract, may not take an…

81A.36 CRIMINAL PENALTIES. An athlete agent who violates section 81A.35 is guilty of a gross misdemeanor. History: 2002 c 332 s 15; 2018 c 192 art 2 s 2

81A.361 CIVIL REMEDIES. § Subdivision 1.Private right of action by educational institution. An educational institution has a right of action against an athlete agent or a former student athlete for damages caused by a violation of sections 81A.22 to 81A.37. In an action under thi…

81A.362 ADMINISTRATIVE PENALTY. The commissioner may assess a civil penalty against an athlete agent not to exceed $25,000 for a violation of sections 81A.22 to 81A.37, in accordance with chapters 14 and 45. History: 2002 c 332 s 17; 2018 c 192 art 2 s 2

81A.37 RELATION TO ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT. Sections 81A.22 to 81A.37 modify, limit, or supersede the Electronic Signatures in Global and National Commerce Act, United States Code, title 15, section 7001 et seq., but do not modify, limit, or supe…

82.20 § Subdivision 1. MS 2002 [Renumbered 82.34, subdivision 1] § Subdivision 1. MS 2008 [Renumbered 82.87, subdivision 1] § Subd. 2. MS 2002 [Renumbered 82.31, subdivision 1] § Subd. 2. MS 2008 [Renumbered 82.87, subd 2] § Subd. 3. [Renumbered 82.31, subd 2] § Subd. 4. [Renumbe…

82.55 DEFINITIONS. § Subdivision 1.Scope. For the purposes of this chapter the terms defined in this section have the meanings given to them. § Subd. 1a.Automated valuation model. For purposes of this chapter, "automated valuation model" means a computerized model used by mortgag…

82.56 EXCEPTIONS. Unless a person is licensed or otherwise required to be licensed under this chapter, the term real estate broker does not include: (a) a licensed practicing attorney if the attorney complies in all respects with the trust account provisions of this chapter; (b) …

82.57 LICENSE FEES. § Subdivision 1.Amounts. The following fees shall be paid to the commissioner: (a) a fee of $150 for each initial individual broker's license, and a fee of $100 for each renewal thereof; (b) a fee of $70 for each initial salesperson's license, and a fee of $40…

82.58 LICENSING: APPLICATION. § Subdivision 1.Qualification of applicants. An applicant for a real estate broker or real estate salesperson license shall be at least 18 years of age at the time of making application for said license. § Subd. 2.Application for license; contents. (…

82.59 LICENSING; EXAMINATIONS AND INSTRUCTION. § Subdivision 1.Generally. Each applicant for a license must pass an examination conducted by the commissioner. The examinations shall be of sufficient scope to establish the competency of the applicant to act as a real estate broker…

82.60 EDUCATION; COURSE CURRICULUM. § Subdivision 1.Prelicense education. Prelicense education for a real estate salesperson must consist of Course I, Course II, and Course III as described in this section. Prelicense education for a real estate broker must consist of the broker …

82.61 LICENSING: CONTINUING EDUCATION AND INSTRUCTION. (a) All real estate salespersons and all real estate brokers shall be required to successfully complete 30 hours of real estate continuing education, either as a student or a lecturer, in courses of study approved by the comm…

82.62 LICENSING: RENEWAL. § Subdivision 1.Duration. The renewal of a salesperson's license is not effective beyond a date two years after the granting of the salesperson's license unless the salesperson has furnished evidence of compliance with section 82.61. The commissioner sha…

82.63 LICENSING; OTHER REQUIREMENTS. § Subdivision 1.Generally. The commissioner shall issue a license as a real estate broker or real estate salesperson to any person who qualifies for the license under the terms of this chapter. § Subd. 2.Additional broker's license. An individ…

82.64 RECIPROCITY. The requirements of sections 82.59, subdivision 8, and 82.61 may be waived for individuals of other jurisdictions, provided: (1) a written reciprocal licensing agreement is in effect between the commissioner and the licensing officials of that jurisdiction, (2)…

82.641 REAL ESTATE CLOSING AGENT LICENSING. § Subdivision 1.License required. Except as otherwise provided in subdivision 6, a person shall not act as a real estate closing agent unless licensed as provided in this section. The commissioner shall issue a license as a closing agen…

82.65 NOTICE TO COMMISSIONER. § Subdivision 1.Change of application information. Notice in writing or in the format prescribed by the commissioner shall be given to the commissioner by a licensee of any change of information contained in the license application on file with the c…

82.66 CONTRACTS. § Subdivision 1.Listing agreements. (a) Requirement. Licensees shall obtain a signed listing agreement or other signed written authorization from the owner of real property or from another person authorized to offer the property for sale or lease before advertisi…

82.67 AGENCY DISCLOSURE REQUIREMENTS. § Subdivision 1.Agency disclosure. A real estate broker or salesperson shall provide to a consumer in the sale and purchase of a residential real property transaction at the first substantive contact with the consumer an agency disclosure for…

82.68 OTHER DISCLOSURE REQUIREMENTS. § Subdivision 1.Agent of broker disclosure. A salesperson shall only conduct business under the licensed name of and on behalf of the broker to whom the salesperson is licensed. An individual broker shall only conduct business under the broker…

82.69 ADVERTISING REQUIREMENTS. (a) Any advertising by a licensee must clearly and conspicuously display the real estate brokerage name. (b) If a salesperson or broker is part of a team or group within the brokerage, the licensee may include the team or group name in the advertis…

82.70 COMPENSATION. § Subdivision 1.Licensee to receive only from, or authorized by, broker. Unless authorized in writing by the real estate broker to whom the licensee is licensed or to whom the licensee was licensed at the time of the transaction, a licensee shall not pay and a…

82.71 NEGOTIATIONS. § Subdivision 1.Written offers. All written offers to purchase or lease shall be promptly submitted in writing to the seller or lessor. § Subd. 2.Nondisclosure of terms of offer. A licensee shall not disclose the terms of an offer to another prospective buyer …

82.72 RECORDS. § Subdivision 1.Delivery. Each real estate broker, real estate salesperson, or closing agent shall furnish parties to a transaction a true and accurate copy of any document pertaining to their interests as the commissioner through appropriate rules may require. § S…

82.73 STANDARDS OF CONDUCT. § Subdivision 1.Access to governing statutes and rules. Every real estate office and branch office shall have a current copy of this chapter and chapter 83 and the rules adopted under those chapters, available for the use of licensees. Access to the st…

82.735 BROKER PRICE OPINION; REQUIREMENTS; DUTIES OF LICENSEE; REGULATIONS. § Subdivision 1.Requirements. A person licensed under this chapter or chapter 82B may prepare and provide a broker price opinion and a broker may charge and collect a fee for it if the license of that lic…

82.74 GUARANTEED SALE PROGRAMS. If a broker advertises or offers a guaranteed sale program, or other program whereby the broker undertakes to purchase real property in the event he or she is unable to effectuate a sale to a third party within a specified period of time, a written…

82.75 TRUST ACCOUNT REQUIREMENTS. § Subdivision 1.Generally. All trust funds received by a broker or the broker's salespeople or closing agents shall be deposited, as provided in subdivision 5, in a trust account, maintained by the broker for such purpose in a bank, savings assoc…

82.76 LOAN BROKERS. § Subdivision 1.Compliance. Loan brokers shall comply with the requirements of subdivisions 2 to 7. § Subd. 2.Contract provisions. A loan broker shall enter into a written contract with each customer and shall provide a copy of the written contract to each cus…

82.77 TABLE FUNDING. § Subdivision 1.Definitions. (a) For purposes of this section, the terms in this subdivision have the meanings given them. (b) "Closing agent" has the meaning given in section 82.55, subdivision 4. (c) "Collected funds" means funds deposited, finally settled,…

82.78 RENTAL SERVICES. § Subdivision 1.License. A rental service shall obtain a real estate broker's license before engaging in business or holding itself out as being engaged in business. No person shall act as a real estate salesperson on behalf of a rental service without firs…

82.80 UNCLAIMED PROPERTY ACT COMPLIANCE. Upon the initial application for a real estate broker's license and upon each annual application for renewal, the applicant or broker shall be required to inform the commissioner of compliance with the requirements set forth in chapter 345…

82.81 PROHIBITIONS. § Subdivision 1.License required. No person shall act as a real estate broker or real estate salesperson unless licensed as provided in this section. § Subd. 2.Misrepresenting status as licensee. No persons shall advertise or represent themselves to be real es…

82.82 DENIAL, SUSPENSION AND REVOCATION OF LICENSES. § Subdivision 1.General authority. The commissioner may by order deny, suspend or revoke any license or may censure a licensee if the commissioner finds (1) that the order is in the public interest, and (2) that the applicant o…