Minnesota § 53B.35 RELATIONSHIP TO FEDERAL LAW

Minnesota Statutes

§ 53B.35 — RELATIONSHIP TO FEDERAL LAW

Minnesota § 53B.35

PartBANKING

Ch. 53BMONEY TRANSMITTERS

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Bluebook

Minn. Stat. § 53B.35 (2026).

Text

(a)In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission is governed by the applicable federal law to the extent of the inconsistency.

(b)In the event of any inconsistencies between this chapter and a federal law that governs pursuant to paragraph (a), the commissioner may provide interpretive guidance that:

(1)identifies the inconsistency; and

(2)identifies the appropriate means of compliance with federal law.

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(a) In the event state money transmission jurisdiction is conditioned on a federal law, any inconsistencies between a provision of this chapter and the federal law governing money transmission is governed by the applicable federal law to the extent of the inconsistency.
(b) In the event of any inconsistencies between this chapter and a federal law that governs pursuant to paragraph (a), the commissioner may provide interpretive guidance that:
(1) identifies the inconsistency; and
(2) identifies the appropriate means of compliance with federal law.