§ 53B.01 Citation
§ 53B.02 License Required
§ 53B.03 Definitions
§ 53B.04 Exemptions
§ 53B.05 License Qualifications
§ 53B.06 Permissible Investments and Statutory Trust
§ 53B.07 License Application
§ 53B.08 Bond or Other Security Device
§ 53B.09 Application Fee
§ 53B.10 Issuance of License
§ 53B.11 Renewal of License and Annual Report
§ 53B.12 Extraordinary Reporting Requirements
§ 53B.13 Changes in Control of a Licensee
§ 53B.14 Examinations
§ 53B.15 Maintenance of Records
§ 53B.16 Confidentiality of Data Submitted to the Commissioner
§ 53B.17 Solvency Required
§ 53B.18 Prohibited Practices
§ 53B.19 Suspension or Revocation of Licenses
§ 53B.20 Authorized Delegate Contracts
§ 53B.21 Authorized Delegate Conduct
§ 53B.22 Licensee Liability
§ 53B.23 Hearings; Procedures
§ 53B.24 Enforcement
§ 53B.25 Rule Notices
§ 53B.26 Appointment of Commissioner as Agent for Service of Process
§ 53B.27 Money Transmitters; Cooperation Required in Combatting Fraud

Terms Used In Minnesota Statutes > Chapter 53B

  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Chair: includes chairman, chairwoman, and chairperson. See Minnesota Statutes 645.44
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Oath: includes "affirmation" in all cases where by law an affirmation may be substituted for an oath; and in like cases "swear" includes "affirm" and "sworn" "affirmed. See Minnesota Statutes 645.44
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Quorum: The number of legislators that must be present to do business.
  • Sequester: To separate. Sometimes juries are sequestered from outside influences during their deliberations.
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • verified: when used in reference to writings, means supported by oath or affirmation. See Minnesota Statutes 645.45
  • Violate: includes failure to comply with. See Minnesota Statutes 645.44
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.