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MN SF2929
Bill
Status
Introduced
3/31/2014
Primary Sponsor
Ronald Latz
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AI Summary
- Amends Minnesota Statutes 2012, section 58A.12 to correct technical errors and oversights in mortgage loan originator licensing enforcement provisions
- Removes references to "interim license" from the commissioner's authority to enter temporary cease and desist orders, clarifying that such orders apply only to licenses erroneously granted or when licensees violate chapter requirements
- Maintains commissioner's enforcement powers including license denial/suspension/revocation, restitution orders, civil penalties up to $25,000 per violation, and cease and desist directives
- Takes effect on the same date as the original provision being corrected
Legislative Description
Revisor's bill
Last Action
Referred to Rules and Administration
3/31/2014
Committee Referrals
Rules and Administration3/31/2014
Full Bill Text
No bill text available