Bill Text: MN SF2517 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Debt collection agencies exclusion provisions modifications
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: (Introduced - Dead) 2012-03-19 - Referred to Commerce and Consumer Protection [SF2517 Detail]
Download: Minnesota-2011-SF2517-Introduced.html
1.2relating to commerce; regulating debt collection agencies; modifying an
1.3exclusion;amending Minnesota Statutes 2010, section 332.32.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2010, section 332.32, is amended to read:
1.6332.32 EXCLUSIONS.
1.7The term "collection agency" shall not include persons whose collection activities
1.8are confined to and are directly related to the operation of a business other than that of
1.9a collection agency such as, but not limited to banks when collecting accounts owed to
1.10the banks and when the bank will sustain any loss arising from uncollectible accounts,
1.11abstract companies doing an escrow business, real estate brokers, public officers, persons
1.12acting under order of a court, lawyers, trust companies, insurance companies, credit
1.13unions, savings associations, loan or finance companies unless they are engaged in
1.14asserting, enforcing or prosecuting unsecured claims which have been purchased from
1.15any person, firm, or association when there is recourse to the seller for all or part of the
1.16claim if the claim is not collected.
1.17The term also does not include a registered individual collector performing the duties
1.18of a collector under sections 332.32 to 332.45 as an employee of a licensed collection
1.19agency, if this business is being conducted in or from the collector's home.
1.3exclusion;amending Minnesota Statutes 2010, section 332.32.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2010, section 332.32, is amended to read:
1.6332.32 EXCLUSIONS.
1.7The term "collection agency" shall not include persons whose collection activities
1.8are confined to and are directly related to the operation of a business other than that of
1.9a collection agency such as, but not limited to banks when collecting accounts owed to
1.10the banks and when the bank will sustain any loss arising from uncollectible accounts,
1.11abstract companies doing an escrow business, real estate brokers, public officers, persons
1.12acting under order of a court, lawyers, trust companies, insurance companies, credit
1.13unions, savings associations, loan or finance companies unless they are engaged in
1.14asserting, enforcing or prosecuting unsecured claims which have been purchased from
1.15any person, firm, or association when there is recourse to the seller for all or part of the
1.16claim if the claim is not collected.
1.17The term also does not include a registered individual collector performing the duties
1.18of a collector under sections 332.32 to 332.45 as an employee of a licensed collection
1.19agency, if this business is being conducted in or from the collector's home.
