Minnesota Statutes 45A.01 – Definitions
Subdivision 1.Scope and application.
For purposes of this chapter, the terms in this section have the meanings given them.
Subd. 2.Broker-dealer.
Terms Used In Minnesota Statutes 45A.01
- Adult: means an individual 18 years of age or older. See Minnesota Statutes 645.451
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- Trustee: A person or institution holding and administering property in trust.
Terms Used In Minnesota Statutes 45A.01
- Adult: means an individual 18 years of age or older. See Minnesota Statutes 645.451
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
- Trustee: A person or institution holding and administering property in trust.
“Broker-dealer” has the meaning given in section 80A.41.
Subd. 3.Commissioner.
“Commissioner” means the commissioner of commerce.
Subd. 4.Common entry point.
“Common entry point” has the meaning given in section 626.5572, subdivision 5.
Subd. 5.Eligible adult.
“Eligible adult” means:
(1) a person 65 years of age or older; or
(2) a person subject to section 626.5572, subdivision 21.
Subd. 6.Financial exploitation.
“Financial exploitation” means:
(1) the wrongful or unauthorized taking, withholding, appropriation, expenditure, or use of money, assets, or property of an eligible adult; or
(2) an act or omission taken by a person, including through the use of a power of attorney, guardianship, trustee, or conservatorship of an eligible adult, to:
(i) obtain control, through deception, intimidation, or undue influence, over the eligible adult’s money, assets, or property to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult’s money, assets, or property; or
(ii) convert money, assets, or property of the eligible adult to deprive the eligible adult of the ownership, use, benefit, or possession of the eligible adult’s money, assets, or property.
Subd. 6a.Financial services provider.
“Financial services provider” means: (1) a bank, bank and trust, trust company with banking powers, savings bank, savings association, or credit union organized under the laws of Minnesota, any other state, or the United States; (2) an industrial loan and thrift under chapter 53; or (3) a regulated lender under chapter 56.
Subd. 7.Investment adviser.
“Investment adviser” has the meaning given in section 80A.41(16), except for section 80A.41(16)(E). Investment adviser includes a federal covered investment adviser, as defined under section 80A.41(7).
Subd. 8.Lead investigative agency.
“Lead investigative agency” has the meaning given in section 626.5572, subdivision 13.