Minnesota Session Laws - 1984, Regular Session

  

                         Laws of Minnesota 1984 

                        CHAPTER 414-H.F.No. 1993
           An act relating to commerce; excluding certain 
          securities and commodities agreements from plain 
          language contract regulation; amending Minnesota 
          Statutes 1983 Supplement, section 325G.30, subdivision 
          3. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1983 Supplement, section 
325G.30, subdivision 3, is amended to read: 
    Subd. 3.  [CONSUMER CONTRACT.] "Consumer contract" means 
any written contract with a consumer except:  (1) a contract 
where the price, excluding interest or finance charges, is more 
than $50,000; (2) a contract through which a consumer mortgages 
an interest in realty or obtains money or credit to be used to 
purchase or refinance an interest in realty; (3) a contract in 
which the sale of personal property is merely incidental to the 
sale of an interest in realty; (4) a written agreement involving 
a transaction in securities with a broker-dealer or investment 
advisor registered with the Securities and Exchange Commission; 
or (5) a transaction in commodities with a futures commission 
merchant registered with the Commodities Futures Trading 
Commission. 
    Approved April 22, 1984