Minnesota § 53A.06 FINE, SUSPENSION, OR REVOCATION OF LICENSE

Minnesota Statutes

§ 53A.06 — FINE, SUSPENSION, OR REVOCATION OF LICENSE

Minnesota § 53A.06

PartBANKING

Ch. 53ACURRENCY EXCHANGES

This text of Minnesota § 53A.06 (FINE, SUSPENSION, OR REVOCATION OF LICENSE) 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. § 53A.06 (2026).

Text

(a)The commissioner may suspend or revoke any license under section45.027, including when the commissioner finds that:

(1)the licensee has failed to pay the annual license fee or to maintain in effect the required bond or to comply with any order, decision, or finding of the commissioner under this chapter;

(2)the licensee, or any officer or director of a corporate licensee, has violated any provision of this chapter or any rule or order of the commissioner under this chapter or chapter45;

(3)the licensee, or any officer or director of a corporate licensee, has violated any other law which would indicate that the person is untrustworthy or not qualified to operate a currency exchange; or

(4)any fact or condition exists which, if it had existed at the time of the original or renewal ap

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(a) The commissioner may suspend or revoke any license under section45.027, including when the commissioner finds that:
(1) the licensee has failed to pay the annual license fee or to maintain in effect the required bond or to comply with any order, decision, or finding of the commissioner under this chapter;
(2) the licensee, or any officer or director of a corporate licensee, has violated any provision of this chapter or any rule or order of the commissioner under this chapter or chapter45;
(3) the licensee, or any officer or director of a corporate licensee, has violated any other law which would indicate that the person is untrustworthy or not qualified to operate a currency exchange; or
(4) any fact or condition exists which, if it had existed at the time of the original or renewal application for the license, would have warranted the commissioner refusing the issuance of the license.
(b) A licensee may surrender any license by delivery to the commissioner. The surrender does not affect the licensee's civil or criminal liability for acts committed before the surrender, or affect the liability on the bond required by sections53A.01to53A.13, or entitle the licensee to a return of any part of any license fee.
(c) Before suspension or revocation of the license, the commissioner may fine a licensee for violations of this chapter as authorized under chapter45.