MN HF4034

Requires insurance policies covering condominiums and townhouses to pay loss assessments charged to unit owners, regardless of when coverage accrues, if the policy was in force at the time of the assessable loss or when the assessment is charged.

Allows the commissioner of commerce to waive licensing and registration requirements for nonresident collection agencies operating in Minnesota if they have a reciprocal licensing agreement with their home state and are licensed in good standing there.

Prohibits unfair service agreements for residential real estate that have exclusive terms exceeding one year and either run with the land, allow assignment without owner consent, are recorded as liens, or automatically renew upon expiration.

Declares unfair service agreements unenforceable, voids any waiver of consumer rights within them, and makes encouraging consumers to enter such agreements an unfair or deceptive practice.

Allows consumers harmed by unfair service agreements to sue in district court up to six years after the agreement term expires and permits recording of judgments against affected property.