Subdivision 1. Requirement. No person shall offer or sell in this state any interest in subdivided lands without having obtained:
(1) a license under chapter 82; and
(2) MS 2002 [Expired, 2001 c 208 s 20]
Subd. 2. Application of other licensing provisions. Every license issued pursuant to this section must be renewed, transferred, suspended, revoked or denied in the same manner as provided in chapter 82 for licenses issued pursuant to that chapter.
Subd. 3. Nonapplication. This section does not apply to persons offering or disposing of interests in subdivided lands which are registered as securities pursuant to chapter 80A.
Subd. 4. Limited broker licensee. An individual acting on behalf of a limited broker licensee issued a license under section 82.63, subdivision 13, is not required to be an officer of a corporation or a partner of a partnership if:
(1) the individual is solely engaged in the business of selling a timeshare interest as defined in section 83.20, subdivision 13;
(2) the individual is adequately supervised by the limited broker licensee; and
(3) the limited broker licensee maintains a roster of individuals selling a timeshare interest including the date the individual started selling. This roster must be made available to the commissioner upon demand within three days of the request.
1973 c 413 s 6; 1976 c 2 s 38; 1984 c 452 s 9; 1986 c 444; 1994 c 632 art 4 s 43; 2001 c 208 s 20; 2008 c 344 s 54
Structure Minnesota Statutes
Chapters 82 - 83 — Real Estate Sales Regulations
Section 83.21 — Commissioner Of Commerce To Administer.
Section 83.23 — Registration Requirement.
Section 83.24 — Public Offering Statement.
Section 83.27 — Inquiry And Examination.
Section 83.28 — Sales Contract; Rescission.
Section 83.30 — Annual Report.
Section 83.31 — Changes Subsequent To Registration.
Section 83.32 — Inspection Of Records.
Section 83.33 — Blanket Encumbrance Sales And Other Prohibited Acts.
Section 83.35 — Enforcement; Powers Of Commissioner.
Section 83.36 — Injunctions; Receivers.
Section 83.37 — Penalties; Civil Remedies.
Section 83.38 — Administrative Pronouncements.
Section 83.39 — Service Of Process.
Section 83.40 — Scope Of Sections 83.20 To 83.42, 83.43 And 83.44.
Section 83.41 — Interstate Rendition.
Section 83.42 — Statute Of Limitations.
Section 83.43 — Criminal Penalties.