1.1.................... moves to amend H.F. No. 157 as follows:
1.2Page 2, delete lines 9 and 10
1.3Page 2, line 11, delete "7" and insert "6"
1.4Page 2, after line 11, insert:
1.5    "Subd. 7. Precious metal content. "Precious metal content" means the quantity,
1.6measured in grams, of gold, silver, platinum, or other precious metal in a coin and the
1.7percentage that the precious metal constitutes of the total weight of the coin."
1.8Page 4, delete lines 8 to 16 and insert:
1.9    "Subdivision 1. Surety bond requirement. Every bullion coin dealer shall maintain
1.10a current, valid surety bond issued by a surety company admitted to do business in
1.11Minnesota in an amount no less than the transactions (purchases from and sales to
1.12consumers at retail) during the 12-month period prior to registration. In no event shall the
1.13surety bond required under this subdivision be more than $200,000.
1.14    Subd. 2. Action on bond permitted. A consumer injured in money or property by a
1.15bullion coin dealer's or coin dealer representative's failure to provide bullion coins that
1.16the consumer has paid for or failure to remit money or goods owed to the consumer in
1.17connection with the consumer's sale of bullion coins may file a claim with the surety and,
1.18if the claim is not paid, is authorized to bring an action based on the bond and recover
1.19against the surety. The commissioner or attorney general may also file a claim and bring
1.20an action on the bond and recover against the surety on behalf of a consumer so injured."
1.21Page 4, lines 19 and 31, delete "melt value" and insert "precious metal content"