Minnesota Statutes
Chapters 46 - 59 — Banking
Chapter 53B — Money Transmitters

Section 53B.01 — Citation. - This chapter may be cited as the "Minnesota Money Transmitters...

Section 53B.02 — License Required. - On or after January 1, 2002, no person except those...

Section 53B.03 — Definitions. - Subdivision 1. Scope. For purposes of this chapter, the definitions...

Section 53B.04 — Exemptions. - Authorized delegates of a licensee or of an exempt entity,...

Section 53B.05 — License Qualifications. - Subdivision 1. Net worth. Each licensee engaging in money transmission...

Section 53B.06 — Permissible Investments And Statutory Trust. - (a) Each licensee under this chapter must at all times...

Section 53B.07 — License Application. - Subdivision 1. Requirements. An application for a license under this...

Section 53B.08 — Bond Or Other Security Device. - Subdivision 1. Requirement. Each application must be accompanied by a...

Section 53B.09 — Application Fee. - Each application must be accompanied by a nonrefundable application fee...

Section 53B.10 — Issuance Of License. - Subdivision 1. Investigation. Upon the filing of a complete application,...

Section 53B.11 — Renewal Of License And Annual Report. - Subdivision 1. Fee. The annual fee for renewal of a...

Section 53B.12 — Extraordinary Reporting Requirements. - Within 15 days of the occurrence of any one of...

Section 53B.13 — Changes In Control Of A Licensee. - Any purchaser of ten percent or more of an ownership...

Section 53B.14 — Examinations. - The commissioner has under this chapter the same powers with...

Section 53B.15 — Maintenance Of Records. - Subdivision 1. Requirement. Each licensee shall make, keep, and preserve...

Section 53B.16 — Confidentiality Of Data Submitted To The Commissioner. - Data or other information obtained by the commissioner under this...

Section 53B.17 — Solvency Required. - If the commissioner determines that a licensee is insolvent, that...

Section 53B.18 — Prohibited Practices. - (a) No licensee shall: (1) fail to comply with chapter...

Section 53B.19 — Suspension Or Revocation Of Licenses. - After notice and hearing, the commissioner may suspend or revoke...

Section 53B.20 — Authorized Delegate Contracts. - Subdivision 1. Contents of contract. Licensees that conduct licensed activities...

Section 53B.21 — Authorized Delegate Conduct. - (a) An authorized delegate shall not make any fraudulent or...

Section 53B.22 — Licensee Liability. - A licensee's responsibility to any person for a money transmission...

Section 53B.23 — Hearings; Procedures. - The provisions of the Minnesota Administrative Procedure Act, chapter 14,...

Section 53B.24 — Enforcement. - Section 45.027 applies to this chapter. 2001 c 148 s...

Section 53B.25 — Rule Notices. - At the time the commissioner files a notice of proposed...

Section 53B.26 — Appointment Of Commissioner As Agent For Service Of Process. - Subdivision 1. Consent and appointment. Any licensee, authorized delegate, or...

Section 53B.27 — Money Transmitters; Cooperation Required In Combatting Fraud. - Subdivision 1. Fraud prevention measures required. Each money transmitter shall:...