Subdivision 1. Exempt person. An exempt person as defined by section 58.04, subdivision 1, paragraph (c), and subdivision 2, paragraph (b), is exempt from the licensing requirements of this chapter, but is subject to all other provisions of this chapter.
Subd. 2. [Repealed, 2000 c 427 s 21]
Subd. 3. Certificate of exemption. A person must obtain a certificate of exemption from the commissioner to qualify as an exempt person under section 58.04, subdivision 1, paragraph (c), a financial institution under clause (2), or by order of the commissioner under clause (6); or under section 58.04, subdivision 2, paragraph (b), as a financial institution under clause (4), or by order of the commissioner under clause (8).
1998 c 343 art 1 s 5; 2000 c 427 s 14; 2007 c 57 art 3 s 14; 2009 c 37 art 3 s 6; 2009 c 86 art 1 s 9
Structure Minnesota Statutes
Chapter 58 — Mortgage Originator And Servicer Licensing
Section 58.03 — Classes Of License.
Section 58.04 — Licensing Requirement.
Section 58.05 — Exemptions From License.
Section 58.06 — Application Requirements For Residential Mortgage Originators And Servicers.
Section 58.08 — Bonds; Letters Of Credit.
Section 58.09 — Term Of License.
Section 58.11 — License Renewal.
Section 58.115 — Examinations.
Section 58.12 — Denial, Suspension, Revocation Of Licenses.
Section 58.125 — Prohibition On Service As A Residential Mortgage Originator.
Section 58.13 — Standards Of Conduct.
Section 58.136 — Rates And Charges.
Section 58.137 — Interest, Points, Finance Charges, Fees, And Other Charges.
Section 58.14 — Record Keeping And Notification Requirements.
Section 58.15 — Disclosure Requirements For Certain Residential Mortgage Originators.
Section 58.161 — Mortgage Broker Duties Of Agency.
Section 58.162 — Transaction Agents Or Servicers; Disclosure Of Note Owner Information To Mortgagor.
Section 58.17 — Scope Of Chapter.
Section 58.18 — Private Right Of Action.
Section 58.19 — Reverse Mortgage Loans Coordination With Chapter 47.