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Minn. Stat. § 45A.07

IMMUNITY FOR DELAYING DISBURSEMENTS.

2018 c 161 s 7; 2020 c 85 s 7

(a) A broker-dealer or investment adviser that, in good faith, complies with section 45A.06 , subdivision 1, or the commissioner of commerce, law enforcement agency, or prosecuting attorney's office is immune from administrative, civil, or criminal liability that might otherwise arise from the delay in a disbursement or placing a hold on a transaction in accordance with this chapter.

(b) A financial services provider, or an employee of a financial services provider, that, in good faith, complies with section 45A.06 , subdivision 2, or the commissioner of commerce, law enforcement agency, or prosecuting attorney's office is immune from administrative, civil, or criminal liability that might otherwise arise from the delay of a disbursement or placing a hold on a transaction in accordance with this chapter.

(c) A party that, in good faith and in compliance with section 45A.06 , delays or places a hold on a disbursement or transaction directed by an attorney-in-fact shall not be deemed to have refused to accept the authority of the attorney-in-fact for purposes of section 523.20 .

Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.