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Statutes > Minnesota Laws > Chapters 324 - 338 Trade Regulations, Consumer Protection > Chapter 332 Collection, Credit Services > Section 332.345 Segregated Accounts

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MINNESOTA STATUTES AND CODES

Section 332.345 Segregated Accounts

332.345 SEGREGATED ACCOUNTS.

A payment collected by a collector or collection agency on behalf of a customer shall be held by the collector or collection agency in a separate trust account clearly designated for customer funds. The account must be in a bank or other depository institution authorized or chartered under the laws of any state or of the United States.

History:

2008 c 344 s 55

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