Minnesota § 332.345 SEGREGATED ACCOUNTS

Minnesota Statutes

§ 332.345 — SEGREGATED ACCOUNTS

Minnesota § 332.345

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 332COLLECTION, CREDIT SERVICES

This text of Minnesota § 332.345 (SEGREGATED ACCOUNTS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 332.345 (2026).

Text

A payment collected by a collector or collection agency on behalf of a customer shall be held by the collector or collection agency in a separate trust account clearly designated for customer funds. The account must be in a bank or other depository institution authorized or chartered under the laws of any state or of the United States. This section does not apply to a debt buyer, except to the extent the debt buyer engages in third-party debt collection for others.

Free access — add to your briefcase to read the full text and ask questions with AI

A payment collected by a collector or collection agency on behalf of a customer shall be held by the collector or collection agency in a separate trust account clearly designated for customer funds. The account must be in a bank or other depository institution authorized or chartered under the laws of any state or of the United States. This section does not apply to a debt buyer, except to the extent the debt buyer engages in third-party debt collection for others.