2005 Minnesota Statutes - 332.43 — Delinquent collection agencies.

     332.43 Delinquent collection agencies. 


    Subdivision 1.    Appointment of receiver.  If the 
 commissioner shall determine that a collection agency licensee 
 is insolvent or has collected accounts but has failed to remit 
 money due to any claimant within 45 days from the end of the 
 month in which collection was made, or when the license of a 
 collection agency has expired or terminated for any reason 
 whatsoever, the commissioner, on determining such action 
 necessary to protect the public interest, may apply to the 
 district court for the county in which the main office of such 
 agency is located for appointment of a receiver to receive the 
 assets of the collection agency licensee for the purpose of 
 liquidating or rehabilitating its business and or for such other 
 relief as the nature of the case and the interest of the 
 claimants may require.  The reasonable and necessary expenses of 
 the receivership shall constitute the first claim on the bond.  


    Subd. 2. Repealed, 1979 c 144 s 7 


    Subd. 3. Repealed, 1979 c 144 s 7 


    HIST: 1969 c 766 s 13; 1973 c 720 s 54 subd 2; 1979 c 144 s 5; 
 1986 c 444; 2004 c 208 s 9