Minn. R. agency 120, ch. 2810, REAL ESTATE PRACTICE, pt. 2810.3300 - SOIL PREPARATION

In a subdivision proposed to be sold with structural improvements where the soil condition is such as to require preparation in some manner so that structural damage is not likely to result, the commissioner will not approve an application until the subdivider has submitted a certification from a civil engineer that the soil has been properly prepared, unless one or more of the following plans have been met:

A. furnish bonds in an amount and subject to such terms, conditions, and coverage as the commissioner may approve;

B. impoundment of purchasers funds in an escrow acceptable to the commissioner, until such time as written evidence of adequate soil preparation has been submitted to and approved by the commissioner;

C. deposit in an escrow acceptable to the commissioner of a sum sufficient to adequately prepare the soil with underwritten agreements providing for progress payments as the work is completed;

D. an alternative plan acceptable to the commissioner.

Notes

Minn. R. agency 120, ch. 2810, REAL ESTATE PRACTICE, pt. 2810.3300

Statutory Authority: MS s 83.38