Loading...
Minnesota Criminal Justice Statute Service
Search
Subscribe to Updates
Reports
Statute Change Report
About
Glossary
Quick Search
514.02
Statute ID:
10673
Nonpayment for improvement; penalties and
In Effect
New Search
Refine Search
Back to Results
Function Details
History
Text
Details are only available for Penalty and Charging Statutes.
Statute Number:
514.02
Enactment Date:
Jan 1, 1859
Effective Date:
Jan 1, 1859
Expiration Date:
Repealed?:
No
Summary Text:
Nonpayment for improvement; penalties and
Statute ID:
10673
Created:
Oct 19, 2006 by mnjis.legal.analyst@state.mn.us
Updated:
Oct 19, 2006 by mnjis.legal.analyst@state.mn.us
Last Update Action:
System
Legal Analyst Comment:
Summary Text:
Nonpayment for improvement; penalties and
Link to MN Statute Text:
https://www.revisor.leg.state.mn.us/stats/514/02.html
Legislative Session:
0 - NA
Session Law Text?:
No
Statute text last updated on:
Oct 19, 2006
Subdivision 1. (a) Proceeds of payments received by a person contributing to an improvement to real estate within the meaning of section 514.01 shall be held in trust by that person for the benefit of those persons who furnished the labor, skill, material, or machinery contributing to the improvement. Proceeds of the payment are not subject to garnishment, execution, levy, or attachment. Nothing contained in this subdivision shall require money to be placed in a separate account and not commingled with other money of the person receiving payment or create a fiduciary liability or tort liability on the part of any person receiving payment or entitle any person to an award of punitive damages among persons contributing to an improvement to real estate under section 514.01 for a violation of this subdivision. (b) If a person fails to use the proceeds of a payment made to that person for the improvement, for the payment for labor, skill, material, and machinery contributed to the improvement, knowing that the cost of the labor performed, or skill, material, or machinery furnished remains unpaid, and who has not furnished the person making such payment either a valid lien waiver under section 514.07, or a payment bond in the basic amount of the contract price for the improvement, conditioned for the prompt payment to any person entitled thereto for the performance of labor or the furnishing of skill, material, or machinery for the improvement, shall be guilty of theft of the proceeds of the payment and is punishable under section 609.52. For an improvement to residential real estate made by a person licensed, or who should be licensed, under section 326.84, a shareholder, officer, director, or agent of a corporation who is responsible for the theft shall be guilty of theft of the proceeds. (c) The penalties and remedies provided in this section do not apply to a third party who receives a payment in the ordinary course of business. (d) For purposes of this section, "residential real estate" has the meaning given in section 326.83.
