Minnesota § 58.05 EXEMPTIONS FROM LICENSE

Minnesota Statutes

§ 58.05 — EXEMPTIONS FROM LICENSE

Minnesota § 58.05

PartBANKING

Ch. 58MORTGAGE ORIGINATOR AND SERVICER LICENSING

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Bluebook

Minn. Stat. § 58.05 (2026).

Text

Subdivision 1.Exempt person.

(a)An exempt person, as defined by section58.04, subdivision 1, paragraph (c), and subdivision 2, paragraph (b), is exempt from the licensing requirements of this chapter, but is subject to all other provisions of this chapter.

(b)Paragraph (a) does not apply to an institution covered under section58.04, subdivision4, even if the institution is otherwise an exempt person. Subd. 2. [Repealed,2000 c 427 s 21] Subd. 3.Certificate of exemption.

(a)The following persons must obtain a certificate of exemption from the commissioner to qualify as an exempt person under section58.04, subdivision 1, paragraph (c):

(1)a bona fide nonprofit organization under section58.04, subdivision 1, paragraph (c), clause (6); or

(2)a person exempted by order of the commissione

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Subdivision 1.Exempt person.
(a) An exempt person, as defined by section58.04, subdivision 1, paragraph (c), and subdivision 2, paragraph (b), is exempt from the licensing requirements of this chapter, but is subject to all other provisions of this chapter.
(b) Paragraph (a) does not apply to an institution covered under section58.04, subdivision4, even if the institution is otherwise an exempt person.

Subd. 2.
[Repealed,2000 c 427 s 21]

Subd. 3.Certificate of exemption.
(a) The following persons must obtain a certificate of exemption from the commissioner to qualify as an exempt person under section58.04, subdivision 1, paragraph (c):
(1) a bona fide nonprofit organization under section58.04, subdivision 1, paragraph (c), clause (6); or
(2) a person exempted by order of the commissioner under section58.04, subdivision1, paragraph (c), clause (7).
(b) The following persons must obtain a certificate of exemption from the commissioner to qualify as an exempt person under section58.04, subdivision 2, paragraph (b):
(1) a bona fide nonprofit organization under section58.04, subdivision 2, paragraph (b), clause (8); or
(2) a person exempted by order of the commissioner under section58.04, subdivision2, paragraph (b), clause (9).