Bill Text: MN SF2929 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Revisor's bill
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2014-03-31 - Referred to Rules and Administration [SF2929 Detail]
Download: Minnesota-2013-SF2929-Introduced.html
1.2relating to legislative enactments; correcting miscellaneous oversights,
1.3inconsistencies, ambiguities, unintended results, and technical errors;amending
1.4Minnesota Statutes 2012, section 58A.12.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1.Minnesota Statutes 2012, section 58A.12, is amended to read:
1.758A.12 ENFORCEMENT AUTHORITIES, VIOLATIONS, AND PENALTIES.
1.8(a) In order to ensure the effective supervision and enforcement of this chapter, the
1.9commissioner may, pursuant to chapter 14:
1.10(1) deny, suspend, revoke, condition, or decline to renew a license for a violation of
1.11this chapter, rules issued under this chapter, or order or directive entered under this chapter;
1.12(2) deny, suspend, revoke, condition, or decline to renew a license if an applicant
1.13or licensee fails at anytime to meet the requirements of section58A.05 or
58A.08 , or
1.14withholds information or makes a material misstatement in an application for a license
1.15or renewal of a license;
1.16(3) order restitution against persons subject to this chapter for violations of this
1.17chapter;
1.18(4) impose fines on persons subject to this chapter pursuant to paragraphs (b)
1.19to (d); and
1.20(5) issue orders or directives under this chapter as follows:
1.21(i) order or direct persons subject to this chapter to cease and desist from conducting
1.22business, including immediate temporary orders to cease and desist;
1.23(ii) order or direct persons subject to this chapter to cease any harmful activities or
1.24violations of this chapter, including immediate temporary orders to cease and desist;
2.1(iii) enter immediate temporary orders to cease business under a licenseor interim
2.2license issued pursuant to the authority granted under section 58A.03, subdivision 4, if
2.3the commissioner determines that the license was erroneously granted or the licensee is
2.4currently in violation of this chapter; and
2.5(iv) order or direct other affirmative action the commissioner considers necessary.
2.6(b) The commissioner may impose a civil penalty on a mortgage loan originator or
2.7person subject to this chapter if the commissioner finds, on the record after notice and
2.8opportunity for hearing, that the mortgage loan originator or person subject to this chapter
2.9has violated or failed to comply with any requirement of this chapter or any rule prescribed
2.10by the commissioner under this chapter or order issued under authority of this chapter.
2.11(c) The maximum amount of penalty for each act or omission described in paragraph
2.12(b) is $25,000.
2.13(d) Each violation or failure to comply with any directive or order of the
2.14commissioner is a separate and distinct violation or failure.
2.15 Sec. 2. EFFECTIVE DATE.
2.16Unless otherwise provided, each section of this act takes effect at the time the
2.17provision being corrected takes effect.
1.3inconsistencies, ambiguities, unintended results, and technical errors;amending
1.4Minnesota Statutes 2012, section 58A.12.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1.Minnesota Statutes 2012, section 58A.12, is amended to read:
1.758A.12 ENFORCEMENT AUTHORITIES, VIOLATIONS, AND PENALTIES.
1.8(a) In order to ensure the effective supervision and enforcement of this chapter, the
1.9commissioner may, pursuant to chapter 14:
1.10(1) deny, suspend, revoke, condition, or decline to renew a license for a violation of
1.11this chapter, rules issued under this chapter, or order or directive entered under this chapter;
1.12(2) deny, suspend, revoke, condition, or decline to renew a license if an applicant
1.13or licensee fails at anytime to meet the requirements of section
1.14withholds information or makes a material misstatement in an application for a license
1.15or renewal of a license;
1.16(3) order restitution against persons subject to this chapter for violations of this
1.17chapter;
1.18(4) impose fines on persons subject to this chapter pursuant to paragraphs (b)
1.19to (d); and
1.20(5) issue orders or directives under this chapter as follows:
1.21(i) order or direct persons subject to this chapter to cease and desist from conducting
1.22business, including immediate temporary orders to cease and desist;
1.23(ii) order or direct persons subject to this chapter to cease any harmful activities or
1.24violations of this chapter, including immediate temporary orders to cease and desist;
2.1(iii) enter immediate temporary orders to cease business under a license
2.2
2.3the commissioner determines that the license was erroneously granted or the licensee is
2.4currently in violation of this chapter; and
2.5(iv) order or direct other affirmative action the commissioner considers necessary.
2.6(b) The commissioner may impose a civil penalty on a mortgage loan originator or
2.7person subject to this chapter if the commissioner finds, on the record after notice and
2.8opportunity for hearing, that the mortgage loan originator or person subject to this chapter
2.9has violated or failed to comply with any requirement of this chapter or any rule prescribed
2.10by the commissioner under this chapter or order issued under authority of this chapter.
2.11(c) The maximum amount of penalty for each act or omission described in paragraph
2.12(b) is $25,000.
2.13(d) Each violation or failure to comply with any directive or order of the
2.14commissioner is a separate and distinct violation or failure.
2.15 Sec. 2. EFFECTIVE DATE.
2.16Unless otherwise provided, each section of this act takes effect at the time the
2.17provision being corrected takes effect.
