--- title: Updating Regulatory Information description: In order to get professional licenses, such as a real estate agent or mortgage originator, you need to fill out an application.  In Minnesota, that goes to the Department of Commerce. Other states have agencies by another name, but that serves the same function. --- [Dan's Desk](https://www.gallatin-law.com/blog/author/dan-gallatin) - [lawyer](https://www.gallatin-law.com/blog/tag/lawyer) - [hugo](https://www.gallatin-law.com/blog/tag/hugo) - [MN](https://www.gallatin-law.com/blog/tag/mn) - [law](https://www.gallatin-law.com/blog/tag/law) - [attorney](https://www.gallatin-law.com/blog/tag/attorney) - [legal](https://www.gallatin-law.com/blog/tag/legal) [Subscribe](https://www.gallatin-law.com/blog/updating-regulatory-information#) 06/24/2020 # Updating Regulatory Information - - - - - [mailto:?subject=Updating%20Regulatory%20Information&body=https%3A%2F%2Fwww.gallatin-law.com%2Fblog%2Fupdating-regulatory-information](mailto:?subject=Updating%20Regulatory%20Information&body=https%3A%2F%2Fwww.gallatin-law.com%2Fblog%2Fupdating-regulatory-information) In order to get professional licenses, such as a real estate agent or mortgage originator, you need to fill out an application. In Minnesota, that goes to the Department of Commerce. Other states have agencies by another name, but that serves the same function. That original application never goes away. The answers you provided therein are deemed to be accurate for so long as you have a license. What's critical to remember is that you have a statutory obligation to notify the regulatory agencies of any changes to your application. You move from Hugo to Lino Lakes - send in a notice. You get sued in district court, send in notice. Failing to provide the required change of information can lead to a very heavy, indefensible sanction. In Minnesota, it could actually cost you $10,000.00!!!! Keeping your regulatory requirements at the forefront is critical. Keeping me in mind if you have regulatory questions may save your livelihood. The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney. Each situation is unique, and you should not act or rely on any information contained herein without seeking the advice of an experienced attorney. All information contained in links are the property of the linked site. - [business move](https://www.gallatin-law.com/blog/tag/business-move), - [changes to application](https://www.gallatin-law.com/blog/tag/changes-to-application), - [professional license](https://www.gallatin-law.com/blog/tag/professional-license), - [regulatory requirements](https://www.gallatin-law.com/blog/tag/regulatory-requirements), - [notice](https://www.gallatin-law.com/blog/tag/notice), - [statutory obligation](https://www.gallatin-law.com/blog/tag/statutory-obligation) ![Dan Gallatin](https://www.gallatin-law.com/hubfs/assets-mjfw/site%20images/Dans-Desk.jpg) ## [Dan Gallatin](https://www.gallatin-law.com/blog/author/dan-gallatin) Dan is a lifelong resident of Minnesota. Born in St. Paul, Dan spent many of his formative years growing up there before moving to White Bear Lake. After graduating from White Bear Lake, Dan spent four glorious years at the University of Wisconsin-Madison, earning a degree in two majors. Dan worked as a Senior Investigator at the Minnesota Department of Commerce for several years after graduating from college. During his final years Dan attended William Mitchell College of Law while still working full-time. During this exhausting 3 ½ year period Dan honed his skills in becoming an efficient, to-the-point legal practitioner. While at Madison Dan met his wife, Tonya, and together they moved to Minnesota to plant their roots. Dan and Tonya have two amazing, unique children and reside in Hugo. ### CONNECT WITH ME - ## Related Posts [08/23/2017 Regulator Gets Reigned in: Commerce Ordered to Pay The Minnesota Department of Commerce is a wildly powerful state agency. It regulates many industries: Real estate agents; appraisers; insurance… Read Post ](https://www.gallatin-law.com/blog/regulator-gets-reigned-in-commerce-ordered-to-pay1) [08/23/2017 Regulator Gets Reigned in: Commerce Ordered to Pay The Minnesota Department of Commerce is a wildly powerful state agency. It regulates many industries: Real estate agents; appraisers; insurance… Read Post ](https://www.gallatin-law.com/blog/regulator-gets-reigned-in-commerce-ordered-to-pay) ### Subscribe Here! ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Dan Gallatin", "url" : "https://www.gallatin-law.com/blog/author/dan-gallatin" }, "dateModified" : "2020-08-21T17:10:32.601Z", "datePublished" : "2020-06-24T05:00:00.000Z", "headline" : "Updating Regulatory Information", "mainEntityOfPage" : { "@id" : "https://www.gallatin-law.com/blog/updating-regulatory-information", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.gallatin-law.com/hubfs/logos/Gallatin-Logo-654x84.png" }, "name" : "Gallatin Law, PLLC" } } ```