1997 Minnesota Statutes

     336.9-201 General validity of security agreement.  

    Except as otherwise provided by this chapter a security 
 agreement is effective according to its terms between the 
 parties, against purchasers of the collateral and against 
 creditors.  Nothing in this article validates any charge or 
 practice illegal under any statute or regulation thereunder 
 governing usury, small loans, retail installment sales, or the 
 like, or extends the application of any such statute or 
 regulation to any transaction not otherwise subject thereto.  

    HIST: 1965 c 811 s 336.9-201