2009 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 332 Collection, Credit Services
Section 332.301 Bond; Background Check
332.301 BOND; BACKGROUND CHECK.
The commissioner may accept an initial surety bond or deposit in an amount less than $100,000 based upon the business plan of the accelerated mortgage payment provider, provided the commissioner obtains a third-party background check at the expense of the accelerated mortgage payment provider and from a source to be determined by the commissioner. The commissioner may require a third-party background check in connection with any accelerated mortgage payment provider at the expense of the accelerated mortgage payment provider, but no more often than annually.
History:
1994 c 638 s 3
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