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MN SF2398
Bill
Status
5/12/2014
Primary Sponsor
Vicki Jensen
Click for details
AI Summary
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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.
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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.
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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.
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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.
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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