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S.F. No. 2065 - Contractor Recovery Fund
 
Author: Senator Theodore J. "Ted" Daley
 
Prepared By: Carlon D. Fontaine, Senate Counsel (651/296-4395)
 
Date: March 5, 2012



 

Section 1 [License fees and license renewal fees] eliminates a reference to the subdivision (see repealer) that allows the commissioner to collect additional assessments for the contractor recovery fund.

Section 2 [Fund fees] requires the commissioner to make an annual adjustment to the fee schedule according to the Consumer Price Index.

Section 3 [Purpose of fund] removes two of the four current purposes of the fund including, paying for educational or research projects regarding residential contracting and for providing information to the public on residential contracting issues.

Section 4 [Commissioner review] allows the commissioner to request a panel of experts to provide advice while reviewing and deciding claims made to the contractor recovery fund.

Section 5 [Right of subrogation] requires a claimant to disclose all forms of remuneration or compensation received for a loss to the commissioner and deduct that value from the final compensation paid by the fund.

Section 6 [Repealer] repeals Minnesota Statutes, section 326B.89, subdivision 16, which relates to the additional assessment.

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