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Office of the Revisor of Statutes

HF 1524

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf 
  1.1                          A bill for an act 
  1.2             relating to consumer protection; regulating financial 
  1.3             transaction cards; providing certain minimum payment 
  1.4             disclosures; proposing coding for new law in Minnesota 
  1.5             Statutes, chapter 325G. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [325G.052] [MINIMUM PAYMENT DISCLOSURES.] 
  1.8      Every financial transaction card issuer shall include on 
  1.9   each billing statement that specifies a minimum payment or 
  1.10  charge, the number of months it would take to pay off the 
  1.11  account balance based on the minimum payment or charge specified.
  1.12     For purposes of this section, the terms "financial 
  1.13  transaction card" and "issuer" have the meanings given those 
  1.14  terms in section 325G.02.