1.1                          A bill for an act 
  1.2             relating to commerce; regulating sales of manufactured 
  1.3             homes; authorizing limited dealer's licenses in 
  1.4             certain circumstances; amending Minnesota Statutes 
  1.5             1996, section 327B.04, by adding a subdivision.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1996, section 327B.04, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 8.  [LIMITED DEALER'S LICENSE.] The commissioner 
  1.10  shall issue a limited dealer's license to an owner of a 
  1.11  manufactured home park authorizing the licensee to engage in 
  1.12  transactions of used manufactured homes located in the owned 
  1.13  manufactured home park as principal only.  The licensee must 
  1.14  hold title to the homes sold and may engage in no more than five 
  1.15  sales annually.  The license shall be issued only after receipt 
  1.16  of the application described in section 327B.04, subdivision 3, 
  1.17  payment of the fee prescribed in section 327B.04, subdivision 7, 
  1.18  and compliance with the license prerequisites contained in 
  1.19  section 327B.04, subdivision 4; except that an applicant need 
  1.20  only secure a surety bond in the amount of $5,000, the applicant 
  1.21  need not maintain a trust account for these sales, and the 
  1.22  applicant need not comply with section 327B.04, subdivision 4, 
  1.23  paragraph (e).  The holding of a limited license does not 
  1.24  satisfy the requirement contained in section 327B.04, 
  1.25  subdivision 4, paragraph (e), with respect to obtaining a dealer 
  2.1   license.  No salesperson may be licensed to act on behalf of an 
  2.2   individual holding a limited dealer's license.  An officer of a 
  2.3   corporation or a partner of a partnership licensed as a limited 
  2.4   dealer, or a designated employee of the corporation or 
  2.5   partnership, may act on behalf of that corporation or 
  2.6   partnership without being subject to the licensing requirements.
  2.7      The commissioner shall adopt rules under sections 14.22 to 
  2.8   14.28 to provide for issuing a limited dealer's license.  
  2.9      Sec. 2.  [EFFECTIVE DATE.] 
  2.10     The rulemaking authority granted in section 1 is effective 
  2.11  the day following final enactment.