2005 Minnesota Statutes - 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. 


    HIST: 1994 c 638 s 3