2006 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 332 Collection, Credit Services, Debt Prorating
Section 332.34 BOND.
332.34 BOND.
The commissioner of commerce shall require each collection agency licensee to annually file
and maintain in force a corporate surety bond, in a form to be prescribed by, and acceptable to, the
commissioner, and in a sum of at least $20,000. A collection agency may deposit cash in and
with a depository acceptable to the commissioner in an amount and in the manner prescribed and
approved by the commissioner in lieu of a bond.
History: 1969 c 766 s 4; 1973 c 720 s 54 subd 2; 1979 c 144 s 6; 1980 c 516 s 2; 1981 c
229 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444; 1987 c 37 s 3; 1996 c 439
art 1 s 16; 1997 c 222 s 52
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