Minnesota Statutes 53A.09 – Powers; Limitations; Prohibitions
Current as of: 2023 | Check for updates
|
Other versions
Subdivision 1.Deposits; escrow accounts.
A currency exchange may not accept money or currency for deposit, or act as bailee or agent for persons, firms, partnerships, associations, or corporations to hold money or currency in escrow for others for any purpose. However, a currency exchange may act as agent for the issuer of money orders or travelers’ checks.
Subd. 2.Gambling establishments.
Terms Used In Minnesota Statutes 53A.09
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
Terms Used In Minnesota Statutes 53A.09
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
A currency exchange located on the premises of a gambling establishment as defined in section 256.9831, subdivision 1, may not cash a warrant that bears a restrictive endorsement under section 256.9831, subdivision 3.