The customer must be notified of the amount of the annual fee, if any, and the date the fee is payable at least 30 days before the account is charged for the fee, and during that 30-day period the customer may cancel the open-end credit plan without penalty other than payment of any outstanding balance.
Minn. Stat. § 325G.47
NOTIFICATION OF ANNUAL FEE.
Known as the Credit Card Disclosure Act
The act spans §§ 325G.40 to 325G.47 (8 sections).
1987 c 256 s 8
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.