Skip to main content Skip to office menu Skip to footer
Minnesota Legislature

Office of the Revisor of Statutes

53C.12 VEHICLE SALES FINANCE COMPANY VIOLATIONS; REMEDIES.
    Subdivision 1. Criminal violations. Any person engaged in the business of a sales finance
company in this state without a license therefor as provided in sections 53C.01 to 53C.14 shall be
guilty of a gross misdemeanor and punished by a fine not exceeding $3,000, or by imprisonment
for a period not to exceed one year, or by both such fine and imprisonment in the discretion of
the court.
    Subd. 2. Fraudulent violations. In case of a fraudulent violation of any provision of
sections 53C.01 to 53C.14, the buyer shall have a right to recover from the person committing
such violation, to set off or counterclaim in any action by such person to enforce such contract
an amount as liquidated damages, the whole of the contract due and payable, plus reasonable
attorneys' fees.
    Subd. 3. Other violations. In case of a failure to comply with any provision of sections
53C.01 to 53C.14, other than a fraudulent violation, the buyer shall have a right to recover from
the person committing such violation, to set off or counterclaim in any action by such person to
enforce such contract an amount as liquidated damages equal to three times the amount of any
time price differential charged in excess of the amount authorized by sections 53C.01 to 53C.14
or $50, whichever is greater, plus reasonable attorneys' fees.
History: 1957 c 266 s 10; 1971 c 398 s 2; 1984 c 628 art 3 s 11; 2003 c 128 art 14 s 4;
2005 c 19 s 1