MN SF4345

Replaces "bullion product transactions with consumers" with "Minnesota transactions" throughout the statute to clarify that registration requirements apply to dealers conducting business with Minnesota consumers, including those operating from outside the state.

Defines "Minnesota transaction" to include transactions by dealers incorporated in Minnesota, involving Minnesota residents, or involving delivery/payment to Minnesota addresses, with limited exceptions for out-of-state business locations.

Establishes surety bond requirements based on transaction volume in the preceding 12 months, ranging from $25,000 for $0-$200,000 in transactions to $200,000 for transactions exceeding $2,000,000.

Updates sales practice regulations to prohibit dealers from failing to provide invoices, deliver products within 30 days, pay for purchased bullion within 30 days, respond to inquiries within three business days, and various forms of misrepresentation regarding products, qualifications, and government relationships.

Requires registered dealers to notify the commissioner within ten days if they terminate a dealer representative for violations of the chapter.