Minnesota § 53B.53 PROHIBITED AUTHORIZED DELEGATES

Minnesota Statutes

§ 53B.53 — PROHIBITED AUTHORIZED DELEGATES

Minnesota § 53B.53

PartBANKING

Ch. 53BMONEY TRANSMITTERS

This text of Minnesota § 53B.53 (PROHIBITED AUTHORIZED DELEGATES) 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.53 (2026).

Text

(a)The district court in an action brought by a licensee has jurisdiction to grant appropriate equitable or legal relief, including without limitation prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in Minnesota and the payment of restitution, damages, or other monetary relief, if the district court finds that an authorized delegate failed to remit money in accordance with the written contract required by section53B.51, paragraph (b), or as otherwise directed by the licensee or required by law.

(b)If the district court issues an order prohibiting a person from acting as an authorized delegate for any licensee under paragraph (a), the licensee that brought the action must report the order to the commissioner within 30 days

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(a) The district court in an action brought by a licensee has jurisdiction to grant appropriate equitable or legal relief, including without limitation prohibiting the authorized delegate from directly or indirectly acting as an authorized delegate for any licensee in Minnesota and the payment of restitution, damages, or other monetary relief, if the district court finds that an authorized delegate failed to remit money in accordance with the written contract required by section53B.51, paragraph (b), or as otherwise directed by the licensee or required by law.
(b) If the district court issues an order prohibiting a person from acting as an authorized delegate for any licensee under paragraph (a), the licensee that brought the action must report the order to the commissioner within 30 days of the date of the order and must report the order through NMLS within 90 days of the date of the order.