Every warehouse operator applying for and receiving a license from the department under this chapter shall file with the department, acceptable to the department, a surety bond to the state of Minnesota. Bonds must be in the amount of $10,000.
The bond must be conditioned for the faithful discharge of all duties as a household goods warehouse operator operating under this chapter and full compliance with the laws of the state and rules and orders of the department. Failure to maintain the bond as required shall void the license.
The bond must be continuous until canceled. To cancel a bond, the surety must provide 90 days' written notice of the bond's termination date to the licensee and the department.
In lieu of the bond required by this section, the applicant may deposit with the commissioner of management and budget cash; a certified check; a cashier's check; a postal, bank, or express money order; assignable bonds or notes of the United States; or an assignment of bank savings account or investment certificate or an irrevocable bank letter of credit as defined in section 336.5-103, in the same amount as would be required for a bond.
In lieu of the bond required by this section, a warehouse operator that does not provide for the storage of household goods may provide proof of legal liability insurance coverage in the amount of $50,000 or more. A warehouse operator must notify the department with written notice of the cancellation of the policy. If the policy is terminated without notification to the department, the warehouse operator is subject to penalties under section 231.39.
(5190) 1915 c 210 s 19; 1927 c 360 s 1; 1971 c 25 s 67; 1971 c 75 s 1; 1985 c 248 s 70; 1986 c 444; 1993 c 212 s 6; 1999 c 110 s 12; 2003 c 112 art 2 s 50; 2009 c 101 art 2 s 109
Structure Minnesota Statutes
Chapters 223 - 236A — Farm Products, Commercial Practices
Section 231.035 — Inspection Authority.
Section 231.04 — Department To Enforce Warehouse Law.
Section 231.08 — Warehouse Operator And Household Goods Warehouse Operator Requirements.
Section 231.09 — Uniform Receipt Issuance.
Section 231.11 — Schedule Of Rates; Storing Household Goods.
Section 231.12 — Change Of Rates; Storing Household Goods.
Section 231.13 — Charging More Or Less Than The Published Rate; Storing Household Goods.
Section 231.14 — Discrimination In Rates; Storing Household Goods.
Section 231.15 — Rates For Storage Of Household Goods.
Section 231.16 — Warehouse Operator Or Household Goods Warehouse Operator License.
Section 231.17 — Bonds Of Warehouse Operators; Legal Liability Insurance.
Section 231.18 — Claims Against A Bond.
Section 231.24 — Complaint That Rate Is Unreasonable; Duty Of Department.
Section 231.28 — Failure To Obey Order Or Law.
Section 231.32 — Proceedings In The Name Of The State.
Section 231.34 — Action On Bond In The Name Of The State.
Section 231.36 — Falsification Or Destruction Of Accounts.
Section 231.37 — Penalty For Divulging Information.
Section 231.375 — Opening Or Abandoning Warehouse Building.
Section 231.38 — Penalty For Transacting Business Without A License.