Minnesota § 53B.42 MAINTENANCE OF LICENSE

Minnesota Statutes

§ 53B.42 — MAINTENANCE OF LICENSE

Minnesota § 53B.42

PartBANKING

Ch. 53BMONEY TRANSMITTERS

This text of Minnesota § 53B.42 (MAINTENANCE 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. § 53B.42 (2026).

Text

(a)If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee's license in accordance with the procedures established by this chapter or other applicable state law for license suspension or revocation.

(b)An applicant for a money transmission license must demonstrate that the applicant meets or will meet, and a money transmission licensee must at all times meet, the requirements in sections53B.59to53B.61.

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(a) If a licensee does not continue to meet the qualifications or satisfy the requirements that apply to an applicant for a new money transmission license, the commissioner may suspend or revoke the licensee's license in accordance with the procedures established by this chapter or other applicable state law for license suspension or revocation.
(b) An applicant for a money transmission license must demonstrate that the applicant meets or will meet, and a money transmission licensee must at all times meet, the requirements in sections53B.59to53B.61.