Bill Text: MN HF1472 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Property management practices provisions modified and remedies provided.
Sponsorship: Partisan Bill (Republican 2)
Status: (Introduced - Dead) 2011-04-14 - Introduction and first reading, referred to Commerce and Regulatory Reform [HF1472 Detail]
Download: Minnesota-2011-HF1472-Introduced.html
1.2relating to commerce; prohibiting certain practices relating to the management
1.3of certain properties; providing remedies;proposing coding for new law in
1.4Minnesota Statutes, chapter 325E.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [325E.67] PROPERTY MANAGEMENT.
1.7 Subdivision 1. Definitions. (a) The definitions in this subdivision apply to this
1.8section.
1.9(b) "Person" means an individual, firm, partnership, limited liability company,
1.10corporation, or association.
1.11(c) "Property manager" or "property management company" means a person who
1.12engages in the business of managing real property that is owned by another person.
1.13(d) "Owner" means a person who has any legal or equitable interest in the real
1.14property.
1.15 Subd. 2. Prohibition of ownership of certain firms. No property manager or
1.16property management company having an interest directly or indirectly in a construction
1.17firm, salvage firm, or appraisal firm may hire the directly or indirectly owned construction
1.18firm, salvage firm, or appraisal firm to perform work on a managed property unless
1.19consented to in writing by the owner or owners. "Firm" includes a corporation,
1.20partnership, association, or individual firm.
1.21 Subd. 3. Prohibited practices. Unless consented to in writing by the owner or
1.22owners, no property manager or property management company shall request or accept
1.23money, rebates, or anything of value from a construction firm, salvage firm, or appraisal
1.24firm as:
2.1(1) an inducement to refer business or clients to the firm;
2.2(2) a condition for awarding a contract to the firm;
2.3(3) part of a fee specified in a contract; or
2.4(4) fee splitting for services rendered, unless the other person is also a licensed
2.5contractor.
2.6 Subd. 4. Remedies. If a property manager or property management company
2.7violates this section, an owner may bring an action against the property manager or
2.8property management company in a court of competent jurisdiction for damages sustained
2.9by the owner as a consequence of the property manager's or property management
2.10company's violation, together with the actual costs of the action, including reasonable
2.11attorney fees. The remedies in this section are in addition to any other remedies permitted
2.12by law.
1.3of certain properties; providing remedies;proposing coding for new law in
1.4Minnesota Statutes, chapter 325E.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. [325E.67] PROPERTY MANAGEMENT.
1.7 Subdivision 1. Definitions. (a) The definitions in this subdivision apply to this
1.8section.
1.9(b) "Person" means an individual, firm, partnership, limited liability company,
1.10corporation, or association.
1.11(c) "Property manager" or "property management company" means a person who
1.12engages in the business of managing real property that is owned by another person.
1.13(d) "Owner" means a person who has any legal or equitable interest in the real
1.14property.
1.15 Subd. 2. Prohibition of ownership of certain firms. No property manager or
1.16property management company having an interest directly or indirectly in a construction
1.17firm, salvage firm, or appraisal firm may hire the directly or indirectly owned construction
1.18firm, salvage firm, or appraisal firm to perform work on a managed property unless
1.19consented to in writing by the owner or owners. "Firm" includes a corporation,
1.20partnership, association, or individual firm.
1.21 Subd. 3. Prohibited practices. Unless consented to in writing by the owner or
1.22owners, no property manager or property management company shall request or accept
1.23money, rebates, or anything of value from a construction firm, salvage firm, or appraisal
1.24firm as:
2.1(1) an inducement to refer business or clients to the firm;
2.2(2) a condition for awarding a contract to the firm;
2.3(3) part of a fee specified in a contract; or
2.4(4) fee splitting for services rendered, unless the other person is also a licensed
2.5contractor.
2.6 Subd. 4. Remedies. If a property manager or property management company
2.7violates this section, an owner may bring an action against the property manager or
2.8property management company in a court of competent jurisdiction for damages sustained
2.9by the owner as a consequence of the property manager's or property management
2.10company's violation, together with the actual costs of the action, including reasonable
2.11attorney fees. The remedies in this section are in addition to any other remedies permitted
2.12by law.
