Section 45.0111 Temporary Licenses
45.0111 TEMPORARY LICENSES.
Subdivision 1.Authority.
The commissioner may grant a temporary license to an applicant who can demonstrate successful completion of all requirements for a permanent license. The temporary license will remain in effect until the earliest of:
(1) receipt by the applicant of the permanent license;
(2) the expiration of 45 days from the date on which the temporary license was granted; or
(3) denial by the commissioner of the permanent license.
Subd. 2.Nonapplication.
A temporary license as described in this section may not be issued to an applicant for licensure as a:
(1) currency exchange regulated under chapter 53A;
(2) collection agency regulated under sections 332.31 to 332.45;
(3) credit service organization regulated under sections 332.52 to 332.60; or
(4) broker-dealer, investment advisor, or agent regulated under chapter 80A.
History:
1997 c 222 s 2; 2007 c 140 art 8 s 30