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| Minnesota – Resident or Non-Resident Fur Dealer (Individual) ($1,000) Bond |  |
| Minnesota – Resident or Non-Resident Fur Dealer (Partnership) ($1,000) Bond | |
| Minnesota – Resident or Non-Resident Fur Dealer (Corporation or LLC) ($1,000) Bond | |
Introduction
A Resident or Non-Resident Fur Dealer in Minnesota is an individual or business engaged in the buying or selling of raw furs within the state. To legally conduct such activities, these dealers must obtain a fur-buying-and-selling license from the Minnesota Department of Natural Resources (DNR). This licensing requirement applies to both residents and non-residents operating in Minnesota.
Explanation: Minnesota Resident or Non-Resident Fur Dealer Bond
The Minnesota Resident or Non-Resident Fur Dealer Bond is a $1,000 surety bond mandated by the Minnesota Department of Natural Resources (DNR) for individuals or businesses—whether based in Minnesota or out-of-state—that engage in buying, selling, bartering, or exchanging raw furs, hides, or pelts within the state. This bond ensures that fur dealers comply with Minnesota’s game and fish laws and regulations.
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Who Needs the Fur Dealer Bond?
According to Minnesota Statutes § 97B.905, the following parties are required to obtain a fur dealer bond:
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Resident Fur Dealers: Individuals or entities based in Minnesota engaging in the purchase or sale of raw furs.
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Non-Resident Fur Dealers: Individuals or entities not based in Minnesota but conducting fur trading activities within the state.
Purpose of the Bond
The $1,000 surety bond serves as a financial guarantee that the fur dealer will:
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Comply with all provisions of Minnesota’s game and fish laws.
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Fulfill all obligations related to the fur trading business, including payment of taxes and debts.
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Ensure ethical and lawful business practices in the fur industry.
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Step-by-Step Process to Get a Minnesota Fur Dealer Bond
Here is a step-by-step process for obtaining the Resident or Non-Resident Fur Dealer Bond in Minnesota:
Step 1. Determine License Type
Identify whether you’re applying as a resident or non-resident fur dealer per Minnesota Statutes § 97A.475.
Step 2. Contact a Surety Bond Provider
Reach out to a licensed surety company authorized in Minnesota.
Step 3. Complete the Bond Application
Provide business and ownership information, including:
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Legal name and address
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Type of business entity (individual, partnership, or corporation)
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Step 4. Undergo Credit Review
The surety may evaluate your creditworthiness. A strong credit score typically means a lower bond premium.
Step 5. Pay the Premium
Pay the required premium for the $1,000 bond. This is often a flat annual fee due to the low bond amount.
Step 6. Receive the Bond
The surety will issue the original bond, which must be signed and notarized as required.
Step 7. Submit the Bond to the DNR
Include the bond with your fur dealer license application and submit it to the Minnesota Department of Natural Resources (DNR).
Step 8. Maintain the Bond
Ensure the bond is renewed annually and remains active to comply with state regulations.
Conclusion
The Resident or Non-Resident Fur Dealer Bond in Minnesota is a vital licensing requirement that ensures fur dealers operate in compliance with state laws. By securing this $1,000 bond, dealers demonstrate their commitment to ethical practices and legal obligations, helping protect both consumers and the state’s natural resources.
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Frequently Asked Questions (FAQs)
Here are frequently asked questions (FAQs) regarding the Resident or Non-Resident Fur Dealer Bond in Minnesota:
Can I get the bond with bad credit?
Possibly. While applicants with strong credit often pay lower premiums, some surety companies offer options for applicants with lower credit scores—though at higher rates.
Is the bond refundable if I cancel my license?
No. Surety bond premiums are generally non-refundable, even if the license is canceled mid-term.
What happens if I operate without the required bond?
Operating as a fur dealer in Minnesota without the required bond and license is a violation of state law, which may result in fines, penalties, and possible criminal charges.
What if I change business types (e.g., sole proprietor to LLC)?
If your business structure changes, you may need to update your bond and submit a new license application reflecting the revised entity type.
Can the surety company cancel the bond?
Yes. The surety may cancel the bond with written notice to the Minnesota DNR, typically with a 30-day advance notice, after which your license may be suspended.
Is a background check required?
Yes. The Minnesota DNR may require background checks or additional disclosures during the licensing process, particularly for non-resident applicants.
What happens if a claim is filed against my bond?
If a valid claim is made (e.g., for legal violations or damages), the surety company may pay the claim up to the bond amount and seek reimbursement from you.