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<br />
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<br />CURRENCY EXCHANGES
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<br />g 5:3A.05
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<br />in ~'hich the applicant is located or is proposing to be located. The commissioner may not 1
<br />approve the application without the concun-ence of the governing body. The governing body -K
<br />shall give published notice of its intention to consider the issue andshall solicit testimony
<br />from interested persons, including those in the community in which the applicant is located 01'
<br />is proposing to be located. If the governing body has not approved 01' disapproverl the issue
<br />within 60 days of receipt of the application, concurrence is presumed, The commissioner
<br />must approve oj' disapprove the application within' 30 days from receiving the decision of the
<br />governing body.' The governing body shall have the so]e responsibility for its decision. The
<br />state shall have no responsibility for that decision,
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<br />(b) If the application is denied, the commissioner shall send by mail notice of the denial and
<br />the reason for the denial to the applicant at the address contained in the application. If an
<br />application is denied, the applicant may, within 30 days of receiving the notice of a denial,
<br />request a contested case hearing pursuant to chapter 14; provided that if the denial is based
<br />upon the refusal of the governing body to concur the' governing body must afford the
<br />applicant a heal'ing. The applicant shall have no right to the hearing provided for in this
<br />section if the denial is based upon the governing body's refusal to concur but shaH have a
<br />hea1'ing before the governing body.
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<br />(c) This section applies to initial applications and renewal applications.
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<br />(d) The state shall have no responsibility fOl' the action of the go\'erning body.
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<br />Laws 1989, c, 247, ~ 4, Amended by Laws 1992, c, 504, 9 4.
<br />
<br />Historical and Statutory Notes
<br />
<br />1989 Legislation
<br />
<br />Laws 1989, c, 247, ~ 16, provides that this sec-
<br />tion is effective Augu~t 1, 1989, Existing currency
<br />exchanges must submit applications in compliance
<br />\\;th this chapter by October 1, 1989. No L'Urrency
<br />exchange shall operate \\~thout a license after De-
<br />cember 31, 1989,
<br />
<br />1992 Legislation
<br />
<br />The 1992 amendment re\\Tote this section, which
<br />had read:
<br />
<br />"The commjsSi()L~l' shall approve or deny an
<br />application within 30 days from the cumpleted
<br />filing of it. If thE' application is denied. the COI11-
<br />missioner shall send by mail notice of the denial
<br />and the rea,,!On 'for the denial to the appJicant at
<br />the address contained in the application. If an
<br />application is denied, the applicant may, \lithin 30
<br />days of receiving the notice of a denial, request a
<br />contested case hearing pursuant t.o chapter 14,"
<br />Laws 1992, c. 504, 9 9, provides in part that 9 4
<br />is effect.ive April 24. 1992, and applies to licenses
<br />issued 01' renewed on 01' after that date,
<br />
<br />53A.05. Change of name, ownership, or location
<br />
<br />Subdivision 1. Name or location. If a licensee proposes to change the name or location
<br />of any 01' all of its currency exchanges, the licensee shall file an application for approval of the
<br />change' with the commissioner, The commissioner shall not approve a change of location if
<br />the requirements of sections 53A02, subdivision 2, and 53A.04 have not been satisfied. If the
<br />change is appl'Oved by the commissioner, the commissioner shall issue an amende!;! license in
<br />the licensee's new name 01' location. A $50 fee must be paid for the amended Jicense.
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<br />Subd. 2. Ownership, The licensee shall notify the commissioner 30 business days in
<br />advance of any change in oWllership of the currency exchang0, The commissioner may,
<br />revoke the cUl'l'ency exchange license if the new ownership would have resulted in a denial of
<br />the initial license under the provisions of chapter 53A
<br />
<br />Laws 1989, c, 247, ~ 5. Ame;Jded by Laws 1992, c. 504, ~ 5,
<br />
<br />Historical and Statutory Notes
<br />
<br />1989 Legislation
<br />
<br />Laws 1989, c, 247, g 16, provides that this sec-
<br />tion is effective August 1, 1989, Existing currency
<br />exchanges must submit applications in compliance
<br />\\ith this chapter by October I, 1989, No currency
<br />exchange shall operate without a license after De-
<br />cember 31, 1989.
<br />
<br />1992 Legislation
<br />
<br />The 1992 amendment rewrote this section, which
<br />had read:
<br />
<br />"If a license )Ji'Oposes to change the name or
<br />location 01' any 01' aH of its cUlTency exchang'es, 01'
<br />adds anew currency exchange location. the licen-
<br />see shall tile an application for appro\'al of the
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<br />327
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