CITY OF COON RAPIDS, MINNESOTA
CHAPTER 5-2800
CURRENCY EXCHANGE BUSINESS

5-2801 Purpose. Minnesota Statutes Chapter 53A provides for the State’s licensing of currency exchange businesses subject to concurrence of those licenses with the City. The City Council finds that while properly operated currency exchanges provide a valuable service for the citizens of the community, improperly operated currency exchanges provide an opportunity to take unfair advantage of unsuspecting persons using the service. The purpose of this Chapter is to provide standards against which the City Council can measure an application for a currency exchange license when deciding whether to concur with such application, and thereby protecting the health, safety and general welfare of the citizens of the City as well as properly operated currency exchange businesses.

5-2802 Definitions. For the purposes of this Chapter, the following words and terms will have the meanings given them:

(1) Commissioner. The Minnesota Commissioner of Commerce.
(2) Currency Exchange Business. Any person, except a bank, trust company, savings bank, savings and loan association, credit union or industrial loan and thrift company, engaged in the business of cashing checks, drafts, money orders, or traveler’s checks for a fee. A person who provides these services incidental to the person’s primary business is not included in the definition if the charge for cashing a check or draft does not exceed one dollar or one percent (1%) of the value of the check or draft, whichever is greater.
(3) Person. One (1) or more natural persons; a partnership, including a limited partnership; a corporation, including a foreign, domestic, or non-profit corporation; a trust; a political subdivision of the State; or any other business organization.
(4) State Law. Minnesota Statutes Chapter 53A as may be amended from time to time.

5-2803 State License Required. No person may engage in the business of currency exchange in the City of Coon Rapids without first obtaining a license from the Commissioner in accordance with the State Law and this Chapter.

5-2804 License Application Review Procedures.

(1) Notice and Reports. Upon receipt from the Commissioner of a complete application for a State Currency Exchange License, the City Clerk will cause to be published in the official newspaper of the City notice of the date, time, and place for a public hearing on the application for the City Council. The notice must be published not less than 10 nor more than 20 days before the date of the hearing. Prior to the public hearing, the City Clerk will cause to be submitted to the Council reports regarding compliance of the application with zoning regulations, access, property tax regulations, the provisions of Section 5-2806 of this Chapter and such other relevant and pertinent information.
(2) Public Hearing. No more than 45 days after receipt by the City from the Commissioner of a complete application, the City Council will hold a public hearing at which time the Council will solicit and hear any testimony from interested persons concerning the application. Following the public hearing the Council will vote to concur with or reject the application. The City Clerk will notify the Commissioner of the Council’s decision in accordance with State Law. If the application is rejected, the Clerk will notify the applicant by certified and regular mail of the Council’s decision and the reasons therefor.
(3) Appeal. Within 30 days of receiving notice from the Commissioner of a refusal of the City Council to concur with the application, the applicant, in accordance with State Law, may file with the City Clerk a written request for an evidentiary hearing. Upon receipt of such request the City Manager, or the Manager’s designee, will cause such hearing to be conducted by an independent hearing examiner. The hearing examiner will follow the procedures for contested cases established in Minnesota Statutes Sections 14.57 through 14.62 and will provide written findings of fact and a recommendation to the City Council. After receiving the examiner’s findings and recommendation, Council will vote to concur with or not concur with the issuance of the license and that decision will be forwarded to the Commissioner.

5-2805 Application Review Fee. Prior to a public hearing before the City Council, an applicant must pay the City a non-refundable application review fee in an amount established from time to time by City ordinance.

5-2806 Standards for Withholding Concurrence of License. The City Council may withhold its concurrence of an original or a renewal State Currency Exchange License if the applicant fails to meet any one of the following standards or requirements:

(1) Individual Applicants.

(a) Is not at least 18 years of age on the date the license application is received by the City.
(b) Is not the real party in interest in the business to be licensed.
(c) Has falsified information or omitted material information on the license application form required by State Law or this Chapter.
(d) Has violated any other provisions of State Law or this Chapter within three (3) years prior to the application date.
(e) Has been convicted of a crime that is directly related to the license sought as defined by Minnesota Statutes Section 364.03, subd. 2, and is not able to show competent evidence of sufficient rehabilitation and present fitness to perform the duties and responsibilities of the licensed occupation, as defined by Minn. Stat. §364.03, subd. 3.
(f) Is not of good moral character and repute.

(2) Partnerships and Corporate Applicants.

(a) If the applicant is a partnership, local concurrence may be withheld if any general partners do not meet all the requirements of subsection (1) above.
(b) If the applicant is a corporation, however incorporated, or a limited liability company, local concurrence may be withheld if any corporate or company officer does not meet all of the requirements of subsection (1) above.

(3) Ineligible Locations. Local concurrence may be withheld if the currency exchange business is located on any property on which taxes, assessments, or other financial claims of the State, County, School District, or City are due, delinquent, or unpaid. In the event suit has been commenced under Minn. Stat. §278.01 - 278.13, questioning the amount of validity of taxes, the City Council may waive strict compliance with this provision provided, however, no waiver may be granted for taxes or any portion thereof which remain unpaid for a period exceeding one (1) year after becoming due.
(4) Distance Limitations. Local concurrence may be withheld if the currency exchange business is located within one half mile of another existing licensed currency exchange business. The distance limitation proposed by this restriction will be measured by a straight line from the nearest points of the closest structures involved.
(5) Zoning. Local concurrence may be withheld if the place of business to be operated under the license is located in a zoning district in which a currency exchange business is not a permitted or conditional use. Local concurrence may also be withheld if a conditional use permit is required and not obtained pursuant to this Code.
(6) Nonpayment of Fee. Local concurrence may be withheld if the applicant does not submit the appropriate application review fee to the City as required in Section 5-2805.
(7) For the purposes of this Section, “applicant” shall include an employee who exercises management or policy control over the company; a director; an officer; a limited or general partner; a manager; or a shareholder holding more than ten percent (10%) of the outstanding stock of the corporation.

5-2807 Penalties. A violation of any provision of this Chapter will be a misdemeanor under Minnesota law.

5-2808 Severability. If any section, sub-section, sentence, clause, or phrase of this Chapter is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this Chapter. The City Council hereby declares that it would have adopted the Chapter and each section, sub-section, sentence, clause, or phrase thereof irrespective of the fact that any one or more sections, sub-sections, sentences, clauses, or phrases be declared invalid. [Adopted 3/1/05, Ordinance 1874]