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MN SF2398

Bill

Status

Passed

5/12/2014

Primary Sponsor

Vicki Jensen

Click for details

Origin

Senate

88th Legislature 2013-2014

AI Summary

  • Updates the definition of "self-service storage facility" to clarify it includes properties designed for renting individual storage space and excludes financial institution vaults, warehouses issuing documents of title, and commercial parking facilities.

  • Expands notification methods for default notices to allow email communication with occupant consent (requiring 12-point bold type disclosure in rental agreement), verified mail, or in-person delivery, with specific verification and fallback procedures.

  • Establishes a 45-day minimum waiting period before sale of personal property (60 days for motor vehicles or watercraft) and requires publication in newspapers or on public websites advertising self-storage lien sales.

  • Permits online sales of property at lien enforcement, requires sales to be conducted in a commercially reasonable manner, and mandates storage facilities hold surplus proceeds for occupant claim with unclaimed balances deposited into state unclaimed property funds after one year.

  • Requires rental agreements to disclose lien rights, limits on property value (minimum $1,000), provisions for optional alternate contact persons for default notices, and military service member identification.

Legislative Description

Minnesota liens on personal property in self-service storage act update and provisions modifications

Last Action

Secretary of State Chapter 215 05/09/14

5/12/2014

Committee Referrals

Judiciary3/6/2014

Full Bill Text

No bill text available