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MN HF2569
Bill
Status
2/29/2012
Primary Sponsor
Pat Mazorol
Click for details
AI Summary
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Clarifies that attorneys at law are exempt from debt management services provider regulations when they provide such services as an ancillary matter to their primary practice, are not in a business relationship with debt management providers regarding these services, and are licensed to practice law in Minnesota.
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Establishes identical exemption criteria for attorneys under debt settlement services regulations, allowing licensed attorneys to provide debt settlement services without regulation when it is ancillary to their primary practice and they maintain no business relationship with debt settlement providers.
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Adds explicit reference to "exempt attorney at law" in the debt settlement services provider definition, clarifying that attorneys meeting the exemption criteria are excluded from debt settlement services provider requirements.
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Amends Minnesota Statutes sections 332A.02 and 332B.02 to codify the attorney exemptions and define what qualifies as an "exempt attorney at law" for both debt management and debt settlement contexts.
Legislative Description
Debt management and settlement exemption for attorneys at law clarified.
Last Action
House rule 1.21, placed on Calendar for the Day
4/17/2012