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Minnesota Statutes Trade Regulations, Consumer Protection (Ch. 324-341) § 332B.05. Denial, suspension, revocation, or nonrenewal of registration

Current as of January 01, 2025 | Updated by Findlaw Staff

Subdivision 1. Denial. The commissioner, with notice to the applicant by certified mail sent to the address listed on the application, may deny an application for a registration for any of the reasons specified undersection 332A.08.

Subd. 2. Suspension, revocation, or nonrenewal. The commissioner may suspend, revoke, or refuse to renew any registration issued under this chapter, or may levy a civil penalty undersection 45.027, or any combination of actions, if the debt settlement services provider or any controlling or affiliated person has committed any act or omission for which the commissioner could have refused to issue an initial registration.

Subd. 3. Procedure. Suspension, revocation, or nonrenewal must be upon notice and under the conditions prescribed insection 332A.09, subdivision 1. Upon issuance of an order suspending, revoking, or refusing to renew a registration, the commissioner:

(1) shall follow the procedure established insection 332A.09, subdivision 2; and

(2) may follow the procedure specified insection 332A.09, subdivision 3, concerning the appointment of a receiver for funds of sanctioned registrants.

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Cite this article: FindLaw.com - Minnesota Statutes Trade Regulations, Consumer Protection (Ch. 324-341) § 332B.05. Denial, suspension, revocation, or nonrenewal of registration - last updated January 01, 2025 | https://codes.findlaw.com/mn/trade-regulations-consumer-protection-ch-324-341/mn-st-sect-332b-05/

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