A person may enter into a credit sale or service contract for sale to a state or national bank doing business in this state, and a bank may purchase and enforce the contract under the terms and conditions set forth in sections 47.59 , subdivisions 2 and 4 to 14; and 51A.386, subdivision 4 . A state bank or national bank may extend credit pursuant to the terms and conditions set forth in sections 47.59 , 47.60 , and 51A.386, subdivision 4 .
Minn. Stat. § 48.194
INSTALLMENT SALES CONTRACTS; LOANS.
Known as the Interstate Banking Act
The act spans §§ 48–48 (81 sections).
1988 c 666 s 1; 1993 c 257 s 17; 1995 c 202 art 3 s 3; 1996 c 414 art 1 s 15; 1997 c 157 s 67; 1998 c 260 s 1
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.